IMPACT OF IMF LOANS ON THE ECONOMIC DEVELOPMENT OF NIGERIA

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dc.contributor.authorBELLO, ILIYASU ABDULRAUF
dc.date.accessioned2014-02-14T14:23:45Z
dc.date.available2014-02-14T14:23:45Z
dc.date.issued2000-10
dc.descriptionBeing a research project submitted to the Department of Business Administration, Faculty of Administration, Ahmadu Bello University, Zaria in partial fulfillment of the requirements for the award of Master of Business Administration (MBA) Degree October 2000en_US
dc.description.abstractThis project is an appraisal of the Impact of International Monetary Fund Loans on the Economic Development of Nigeria. Many collapsed economies especially of the developing countries usually run to IMF for revival. The result of this study has shown that countries that do turn to IMF for revival are simply committing economic suicide, as it is evident that they are worse off after the implementation of IMF prescribed panacea. The stringent conditional attached to IMF loans have left the country in economic distress as the finding has shown that Nigeria economy was better than what it was before 1986 when IMF loans were obtained to finance the Structural Adjustment Program-me. The key sectors of the economy such as education, industry, agriculture and health have suffered serious set back during and after the implementation of IMF financed Structural Adjustment Programmed. Evident has shown that the structure of the Nigerian economy needs no adjustment, which is why the adjustment programme brought no improvement to the economy. The interest and exchange rates have not been stable since the introduction of IMF sponsored SAP. This has led to persistent increase in the cost of living as a result of inflation, unemployment, capacity Vii under utilization, etc. The fund's areas of inadequacy were extensively discussed. The fund's organization, policies and procedures have revealed shortcomings in relation to the needs of the world economy and the specific concerns of the developing countries. Such areas of inadequacies include; lack of medium-term facility, the size of the fund-quotes, the recent handling of conditionality, exchange rate volatility, etc. Suggestion has been offered to overcome these inadequacies. The Nigerian debt crisis is one of the legacies of IMF loans. Ways out of this crisis have been suggested. These include Nigeria making effort to authenticate its external debt so as to avoid being swindled by international financiers, putting in place a comprehensive debt policy to provide the necessary framework for the country debt management strategy. Debts whose sources and usage are questionable should be ignored through concerted effort with other third world countries and finally government should avoid raising loans from the international Capital Market and other creditors such as IMF which charge high interest rates with stringent conditionality and whose money carry short maturity.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/1608
dc.language.isoenen_US
dc.subjectIMPACT,en_US
dc.subjectIMF LOANS,en_US
dc.subjectECONOMIC,en_US
dc.subjectDEVELOPMENT,en_US
dc.subjectNIGERIAen_US
dc.titleIMPACT OF IMF LOANS ON THE ECONOMIC DEVELOPMENT OF NIGERIAen_US
dc.typeThesisen_US
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