The International Monetary Fund and the Global South: An Analysis of International Financing and Development of the Economies Nigeria, South Africa, and Kenya
DesJardin, Charles Thersie
The International Monetary Fund (IMF) d (IMF) is a worldwide organization that offers financial support and economic revamping planning to countries in times of need. In some casescases, the intent of the IMF is questioned because put simply they are a failsafe for countries in debt and in crisis. The problem then becomes if the IMF should support these countries. With strict policies in place and over 24 delegates on the board of the IMF, they then decide how decides how they are going to approach each country's economic issues and where the funding is going to go.go. The role that the IMF plays in South Africa, Nigeria, and Kenya varies with each country's population, Gross GDomestic Product (GDP), and debt margins. In South Africa the IMF was very prevelantprevalent during the apartheid and that showed through their monetary support. Mmuch of their support today isfor South Africa is a result of misguided support during the apartheidof the misguided attempt at support during the apartheid. In Nigeria, the population is growing at a tremendous rate and the health and education systems are extremely underfunded. This is shown in the IMF’s willingness to allocate resources to those two fields. In Kenya, they are struggling with health, education, and a devolution system put in place years prior that left the centralized government in pieces. Working from the ground up the IMF was essential in establishing economic policies for the public. The IMF also worked diligently in these countries to free up cash flow to increase foreign investment. As well asMoreover, the IMF focused on and worked working to create revenues generated from economic fields like healthcare and education, that were typically towards ranked at the bottom in these countriesthe bottom. All in all, the IMF works with countries that have strong economic and political sway in order to ensure the loans are repaid and the nation's individual economy comes out better than before.
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