International Journal of Humanities and Social Science

ISSN 2220-8488 (Print), 2221-0989 (Online) 10.30845/ijhss

Global Financial Institutions: The Double- Edged Blades and Instruments of Northern Domination
Edmore Ntini

This paper debates the effectiveness and ineffectiveness of global financial institutions in international trade, international monetary and international development spheres. An emerging picture is that GFIs are neither a complete failure nor a convincing success story. Rating GFIs effective or ineffective is a question of ideology because the pendulum continues to swing. The paper argues that GFIs are strong instruments of domination by the North and furthering the interests of capitalist powers. Discourse on reactions towards GFIs have argued for abolition, empowerment, the need for a paradigm shift, resolving problems of overlapping mandate and improving relations with other international organizations.

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