IMF and World Bank And the dilemma of development in third world countries

Abstract

This study aims to follow the path of development supported by the Bretton Woods institutions in the Third World countries. The Fund and the Bank have several financial and monetary roles in the world. They constitute the global financial system in addition to providing loans for financing development. .

The study concluded that loans conditional on the policies of the Fund and the Bank revealed a significant deterioration in development through the decline in living standards of the majority of society due to the rise in unemployment rates and poverty, as well as the widening gap between the classes of society and the increase in debt capacity. Its performance and the entry of its economies into a cycle of deficits and unrest and left social and political effects on countries, requires reforms that affect the policies and programs of the Fund, in addition to thinking of new financing alternatives beyond the IMF and the World Bank.