Responses: Francis Mwega, Professor, University of Nairobi, Kenya
My view is that there is a large critical literature on the IMF and the World Bank (e.g. Killick, Stigliz, Mkandawire and Soludo), and one requires to review that literature in order to offer a nuanced view on how their role in LICs can be enhanced. In Kenya, for example, there is no evidence that these IFIs modes of operation have changed substantially as a result of the global financial crisis. The IMF has offered a loan of $209 million to build Central Bank reserves, but this is very little compared to the stimulus needs of the economy. I am also not aware of any support that the World Bank has offered the country which is directly linked to the GFC.
This post features the author's personal view and does not represent the views of ODI, DRI or DFID.
Comments
To help generate debate and discussion, we welcome comments on the blog posts from all. The synthesis and final report will focus in particular on comments from civil society, research, academic and private sector organisations in Low Income Countries. Comments may be moderated to ensure the balance of debate.
