This paper is to research a project of the World Bank or the IMF that created problems for the
nation that received its assistance. To describe the negative outcomes of the project and to
explain whether the negative impacts could have been avoided. This paper will further
explain on whether the International Financial Institutions could consistently provide
assistance in an objective, unbiased and responsible manner.
Keywords: IMF; World Bank; IFI; Negative; Outcomes
The International Monetary Fund (IMF) and the World Bank were conceived at the Bretton
Woods in July 1944 by 44 countries with the goal of developing a framework for post-war
economy, and to avoid another Great Depression, witnessed in the 1930s (IMF, n.d).
The IMF’s purpose was to promote growth with full employment by providing loans to
undeveloped economies or countries in crises. Furthermore, to establish a mechanism to
stabilize exchange rates and enables countries to transact with each other via international
payment (IMF, n.d).
IMF and the World Bank are largely influenced by American policymakers, asserting their
influence in shaping the conditionality agreements (Oatley and Yackee, 2004) in the form of
structural adjustment or austerity measures. Critics felt these policies have decimated social
safety nets, lack of employment, healthcare, education, and affected the surrounding
environments. An example of a project of a nation that received assistance from the World
Bank and still found themselves with problem is Senegal’s Trade in Groundnuts.
Groundnuts were originated in Senegal (became independence from France in 1960, a small
country located in West Africa), brought in by the Portuguese in the 16th century. The
... middle of paper ...
... educations. As a result, I don’t think IFI’s can consistently provide assistance
in an objective, unbiased and responsible manner.
IMF. (n.d). The IMF at a Glance. Retrieved November 21, 2016 from
Oatley, T. and Yackee, J. (2004). American Interests and IMF Lending, Palgrave Macmillan Ltd.
Badiane, C. (2001). Senegal’s Trade in Groundnuts: Economic, Social and Environmental
Implications. American University. Retrieved November 21, 2016 from
The World Bank. (n.d). Country Overview. Retrieved November 21, 2016 from
Globalization 101. (n.d). International Monetary Fund and World Bank. Retrieved November 21,
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783 words (2.2 pages)
A Project Of The World Bank Or The Imf That Created Problems For The Nation That Received Its Assistance
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