The Impact Of Global Financial Institutions Such As The World Bank And International Monetary Fund ( Imf )

2179 Words Dec 4th, 2015 9 Pages
This essay aims to explore and critically analyze the impact of the global financial institutions such as the World Bank and International Monetary Fund (IMF). There was a discussion on reasons for the establishment of the institutions. An examination using various illustrations of the conditions these institutions impose on borrowing countries. Developing countries in the sub-Sahara Africa and, in particular, Senegal will be used to explore dealing with above institutions and their outcomes. It will also highlight reasons leading to the selected country applying for loan assistance. The identified conditions attached to loans provided and its impact on health, economic, environmental, political and cultural determinants. A conclusion will follow this.
The World Bank and the IMFs strategies and its impacts in the sub-Sahara region have come under scrutiny. These highlighted the concerns about the region 's development with some Africans leaders and international organizations questioning if those strategies were to improve or mired development and standards of living in the region. Some critics have argued, that the World Bank and IMF strategies employed by African countries to either get a loan or pay off their debts to the IMF has led to high unemployment and poverty, therefore, hindering sustainable development (Oya,2006). Though, many studies have explored the effects of IMF condition attached to the debts, not often do they analyze the human right consequences of the…
Open Document