The minority government of AP, with a standby agreement with IMF, prepared the structural adjustment programs (SAP) known as ‘24 January measures’. The main policy recommendations included:

• Removing state control over interests and prices and increasing competition for state enterprises through elimination of government subsidies.

• Avoiding the destabilization of the economy through making arrangements to cope with fiscal deficits, inflation and external debt accumulation.

• Shifting from import substitution to an export promotion strategy, import liberalization, promotion of foreign investment and determination of realistic exchange rates.

• Concentration of public investment on the energy and transportation infrastructure rather than manufacturing.