The Role of International Monetary Fund as an Apparatus of Neo-colonialism

Abstract

Main objective this research work is critically evolution the role of the International Monetary Fund (IMF) as pursuing of neo-colonialism. An assessment of the IMF’s policies and practices; literature reveals that how the institution serves interest of the powerful donor in the less income countries. This research work perpetuates that the IMF pursuing of the economic liberalization and capitalist agenda extends neo-colonial ideology, prioritize an influence of the developed nations over the developing world. Additionally, the IMF role in the mediation of world order and its support for the dictatorial regimes raises question about its stand for the democratization, human rights and social justice. However, this research work shed light on the policies and practices of the IMF, world governance and dynamics of the world politics. Theoretically, the role of the IMF has been scaled in the light of the Marxist approach and it is investigated that how IMF serving interest of the West in the borrowing countries. A qualitative method has applied for this research work and data is collected from the published books, articles, newspapers and reports published on IMF’s policies and its role.

Keywords: International Monetary Fund, Neo-colonialism, Imperialism, liberalism and capitalism