CEVAP:

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.