The International Monetary Fund: Recipes for Development and the Conditions for Capitalist Transformation in Developing Countries.

• Post by: Muthanna mjdes
• November 2, 2022
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Ali Jaber Abdul Hussein Al Maali

Al-Muthanna University/ College of Administration and Economics

Abstract

The capitalist system managed to impose its will and ideas in order to revive its trade and reform its monetary system by establishment the international financial institutions such as the International Monetary Fund (IMF), the World Bank and the world trade organization WTO. The IMF assumed a great position as the right arm of the capitalist system and defended its interests by offering capitalist ideologies and prescriptions with aids and loans to the developing countries to deepen the dependence of these countries regardless of the nature of cultural systems, political, economic and social which are ruling these countries. These programs and prescriptions are imposed on countries and have no choice in rejecting them or implementing planned national programs instead. It is noted that the implementation of IMF programs and the protection of creditor countries’ interests are closely related to economic, social and political changes of debtor countries.

DOI:10.52113/6/2018-8-4/82- 94