The Impact of International Monetary Fund (Imf) and the World Bank Structural Adjustment Programmes in Developing Countries, Case Study of Kenya

Abstract

The main purpose of the study was to examine impact of IMF/ World Bank Structural Adjustment Programs on developing countries with their application in Kenya. The Globalization of the world economy especially since the Second World War has given rise to large global inequalities which has been responsible for an increase in the number and proportion of human population suffering from absolute poverty and starvation. Dependency theory, argues that the IMF and the World Bank policies and programs have indeed been heavily criticized for many years and have been seen as unhelpful and sometimes difficult to account, as they have led to increased dependency by developing countries upon wealthier nations. Data was mainly be derived from secondary and primary sources. The data collection tools for the secondary data that were in-depth information gathering, and document analysis. The study concludes that IMF/World Bank Structural Adjustment Policies increase poverty and cause underdevelopment. The study concludes that social sectors such as health and education are most affected by these policies as less money is put in social projects by governments’ hence the underdevelopment