IMF Austerity Programs in Ghana and Senegal: Has Political Instability Been a Result?
Hahn, Nicolette G.
MetadataShow full item record
Since the late 1970s, when the International Monetary Fund (IMF) first began its role as an active lender and advisor in Africa, controversy has bubbled around this role. The IMF has come to be regarded by international lending institutions as an almost obligatory player in their transactions. Those countries that receive the IMF "stamp of approval" for their economic programs are virtually guaranteed support from international banks, and conversely, those denied this "stamp" are virtual lepers to international lending institutions. In this paper, certain aspects of IMP involvement in these Ghana and Senegal will be examined. The most frequently lodged criticisms of the Fund's conditionality will be delineated in a general manner. In a more detailed manner, the specific claim, that IMF programs and the conditions placed on nations wishing to receive IMF assistance result in severe political implications for the borrower, will then be explored. Using Ghana and Senegal as subjects, hypotheses will be formed regarding any link that can be made between political involvement by the masses, and women in particular, to the policies of the IMF.