ABSTRACT: The trust of this paper is the evaluation of the I.M.F loan policy on developing nations with Nigeria as a case study. The paper begins by giving a brief stored perspective of fund. The structure, it’s operating procedure and its lending policies. The study also tries to know why the implementation of funds loan usually goes with adverse effect on the economy of the developing nations. It further tries to know whether the western countries are using the fund as an instrument for controlling the economy of the developing nations. The study as can be seen will be of a great interest to both the developing nations and their financial accommodators. By using a set of questionnaire, a number of selected bankers and research centers were used for the study in order to find out their opinion on the issue at hand. Analysis of the data using percentage and Chi – square were used in analyzing questions and testing of the hypothesis. This reveals that IMF is not meeting up with it’s objectives, especially in the areas of helping out countries that are in financial difficulties by making the funds resources temporary available to them and equate safeguard this providing them with opportunity to correct mere adjustments in their balance of payment. The funds only does this by providing these funds under harsh condition which if adopted by the developing nations normally compound their economic problems. Secondly, the conditionalities given by the fund on their loans diffter between the developed nations and the developing nations. Thirdly, the loading condition of the fund to the developing nations are usually unfavourable to them. Lastly, the study also revealed that the developed nations are using the fund to control the economy of the developing nations. From the research findings, specific and generalized suggestions are made for the gradual and systematic solution to the problem. These include.
TABLE OF CONTENTS
CHAPTER ONE
1.1 Statement of problem 5
Reference 12
CHAPTER TWO
Reference 45
CHAPTER THREE
3.1 Introduction 47
3.2 research method 47
Research population analytical techniques.49
Reference 52
CHAPTER FOUR
4.1 Test of Hypothesis 63
CHAPTER FIVE
5.1 Findings 70
Bibliography 73
Questionnaire 74
CHAPTER ONE
1.0 INTRODUCTION
International monetary fund is the most important international financial institution established by the world powers at the end of second world war. it is an intergovernmental plan supporting the structure of the world’s economic and financial order. As a voluntary and co-operative institution, it attracts to its membership nations that are prepared, in spirit of enlightened self interest to relinquish some measure of national sovereignty by abjuring factices injurious to the economic well being of their fellow member nations.
The effect of the world war 11 was devastating in most European countries and allied countries. Most economics were destroyed and the excessive imports and borrowing to prosecute the war allied to the convening of a meeting called the united Nations monetary and financial conference by all the allied that fraught the world war 11 against Germany.
IMF was formed in reaction to the unresolved financial problems instrumental in initiating and protracting the great depression of the 1930’s. Anyanwu (1993).
As a result of the great depression of the 1930’s sudden unpredictable varieties in the exchange values of national currencies and a wide spreed disinclination among governments to allow their national currency to be enchanged for foreign currency. Indeed, agreemen
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