International Financial Institutions ( Ifis )

In this research paper, I will examine one of the projects that the International Financial Institutions(IFIs) namely the World Bank and IMF has created problems for in one of the countries that have received their aid. I will try to uncover the primary purpose of the IFIs, with the aim of discovering if the IFIs help or support given was in an unbiased and responsible manner.

International financial institutions (IFIs) are organizations that provide funding (via grants and loans) for economic and social development activities in developing countries. International financial institutions include public banks, such as the World Bank, International Monetary Fund, and regional development banks. They provide loans, grants, and technical assistance to governments, as well as loans to private businesses investing in developing countries (Investopedia). They also play a significant role in the privatization and regulation of public utilities and natural resources.

These multilateral share a mission of combating poverty, but their approach to economic growth has historically produced enormous debt among developing countries, unfairly favored wealthy and politically powerful elites, and offered few safeguards to protect the environmental, social, and human rights of citizens in the face of large-scale development.

The International Financial Institutions (IFIs) are the chief supporter and the founder of the global economy. The world Bank and IMF were founded and funded by the United States, Great Britain, France, Russia and 40 other countries after the second world war. It was to build “shattered global economy” after the war and great depression of the1930s (Globalization 101.org pg2). The creation of the IFIs was to bring about a wo...

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...sponsible for their actions from the beginning. I found that the economies would have been bloomed at an unbelievable rate if the leaders did not rob their country’s treasury, and offer guidelines that had an effect on the people. Nevertheless, if the leaders of the LCDs would have stood their ground in making treaties with the IFIs, they could have reached a fair agreement for the same benefit by both parties and look at the future of their country benefit.

In conclusion, if the IMF and World Bank are international organizations whose set policies by all the partaking countries or members of the UN, they should further have used the interest of the big capitalist powers in which the US has the most important and influential position. They should also go beyond and about to make sure that countries like Mexico and Haiti received the aide they need to help the people.