International Financial Institutions (IFIs)
Facilitators or Obstructionists to Globalization?
Diana Heeb Bivona
Following the end of World War II when a greater interdependence among the nations of the world emerged, there was an increased interest among many countries to establish international financial institutions (IFIs). This resulted in the creation of institutions such as the World Bank, the International Monetary Fund (IMF), and the International Finance Corporation (IFC), and later expanded to include multilateral development banks (MDBs), and various other international developmental agencies. The scope and increasing influence of these IFIs have led to their description as “the world’s most powerful agents of economic reform” ...
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