The IMF or the AMF: Defining the Future of Financing for Investment and Development Projects in Africa

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Dr. Paul S. Masumbe
Dr. Paul S. Masumbe

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GJHSS Volume 21 Issue F6

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Since independence the government of many African countries have depended on the International Monetary Fund (IMF) and the World Bank as their main sources of finance for major developmental and investment projects in their respective countries. Accordingly, besides the granting of loans to Low Income Countries (LICs) at zero interest rate, the IMF also assists member countries to resolve their balance of payment challenges as well as granting interest-bearing loans to both member and non-member countries. Similarly, the African Monetary Fund (AMF) which is a prototype of the IMF was created by the African Union (AU) and is not yet operational. Just like the IMF, the AMF is intended to fund major developmental projects in Africa. This article examines the IMF loans conditionality and the award of Special Drawing Rights (SDR) to African Countries as seen during the COVID-19 crisis.

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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Dr. Paul S. Masumbe. 2021. \u201cThe IMF or the AMF: Defining the Future of Financing for Investment and Development Projects in Africa\u201d. Global Journal of Human-Social Science - F: Political Science GJHSS-F Volume 21 (GJHSS Volume 21 Issue F6): .

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Advanced research on investment finance and economic growth in global markets. Focuses on financial planning, policy, and development.
Issue Cover
GJHSS Volume 21 Issue F6
Pg. 21- 28
Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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GJHSS-F Classification: FOR Code: 369999
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v1.2

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December 31, 2021

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English

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Since independence the government of many African countries have depended on the International Monetary Fund (IMF) and the World Bank as their main sources of finance for major developmental and investment projects in their respective countries. Accordingly, besides the granting of loans to Low Income Countries (LICs) at zero interest rate, the IMF also assists member countries to resolve their balance of payment challenges as well as granting interest-bearing loans to both member and non-member countries. Similarly, the African Monetary Fund (AMF) which is a prototype of the IMF was created by the African Union (AU) and is not yet operational. Just like the IMF, the AMF is intended to fund major developmental projects in Africa. This article examines the IMF loans conditionality and the award of Special Drawing Rights (SDR) to African Countries as seen during the COVID-19 crisis.

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The IMF or the AMF: Defining the Future of Financing for Investment and Development Projects in Africa

Dr. Paul S. Masumbe
Dr. Paul S. Masumbe

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