The Role of IMF and World Bank in the Democratization Process in Africa: A Critical Analysis

Temesgen Lemessa Birru

Abstract: International Monetary Fund (IMF) and World bank a giant economic and financial institutions established following the Second World War. The IMF was established with the aim of administering worlds economic system. On the other hand World Bank was primarily established to offer loans for Europeans post- Second World War reconstruction. This paper attempts to analyze the role of these institutions in democratization of Africa. Scholarly written books, journals and articles were reviewed and analyzed critically. The IMF and World Bank strived more to pave the for Euro- American intervention in the internal economic and political affairs of Africa than they worked for democratizing Africa.

Keywords: IMF, World Bank, Democratization