Topic > International Financial Institutions (Ifis) - 898

In this research paper, I will look at one of the projects for which the International Financial Institutions (IFIs), namely the World Bank and the International Monetary Fund, have created problems in one of the countries that received their help. I will try to reveal the main purpose of the IFIs, with the aim of finding out whether the help or support provided by the IFIs was impartial and responsible. International Financial Institutions (IFIs) are organizations that provide financing (through grants and loans) for economic and social development activities in developing countries. International financial institutions include public banks, such as the World Bank, the 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 services and natural resources. These multilaterals share a mission to fight poverty, but their approach to economic growth has historically produced huge debts among developing countries, unfairly favored wealthy and politically powerful elites, and offered few guarantees to protect environmental rights, social and human aspects of citizens in the face of large-scale development. International Financial Institutions (IFIs) are the main supporters and founders of the global economy. The World Bank and the International Monetary Fund were founded and financed by the United States, Great Britain, France, Russia and 40 other countries after World War II. It was about building “a shattered global economy” after the war and great depression of the 1930s (Globalization 101.org pg2). The creation of IFIs aimed to create a wo...... middle of paper ...... responsible for its own actions from the beginning. I found that economies would have flourished at an incredible rate if leaders had not robbed their country's coffers and offered guidelines that had an effect on the people. However, if the LCD leaders had maintained their position in making treaties with the IFIs, they could have reached a fair agreement with the same benefit for both sides and looked forward to future benefits for their country. In conclusion, if the IMF and the World Bank are international organizations whose policies set by all participating countries or members of the United Nations, they should have further exploited the interests of the great capitalist powers in which the United States has the most important and influential position . They should also go further and ensure that countries like Mexico and Haiti receive the aid they need to help their populations.