INTRODUCTION TO THE POVERTY REDUCTION STRATEGY PLANS (PRSP): PROCESS AND EFFECTIVENESS REVIEW

Abstract

Purpose- This study tries to describe a comprehensive overview of the Poverty Reduction Strategy Plan papers. This is a crucial document that any current economist should understand. Currently, the globe is implementing seventeen development goals listed on the Sustainable Development Goals Agenda. Methodology- The empirical review through several reports and works that addresses several themes that are pertinent to the Poverty Reduction Strategy Plans document, including the Interim Poverty Reduction Strategy Plan (IPRSP) and the Complete Poverty Reduction Strategy Plans (PRSP) was done. The work also describes how historically the concept of poverty reduction strategy plans (PRSP) came to exist. It covers the time from when the PRSP method was presented in 1999 up to date. Also, the work explains the main principles that must be included in preparing the Poverty Reduction Strategy Plans (PRSP) documents and challenges that face poor countries in the implementation of their corresponding poverty reduction strategy plans (PRSP) is discussed. Findings- The paper finalize by looking at different discussions and views on whether these plans really help the poor countries, or they are just another mode of empowering the poor countries and international finance institutions will be given. By the end of this review a reader should be able to grasp and overview of overall concept of the poverty reduction strategy plans. Conclusion- The study concluded that the plans help developing countries due to noticeable development progress in developing countries.