Politics of Money and the Value of the Naira: The World Bank and the IMF Strategy Against the Third World

Abstract

This Paper is a preliminary examination of the political and strategic implications of the World Bank and the IMF Structural Adjustment Programmes (SAP) on developing Nations, also known as the Third World.  We say it is preliminary because, only a mere sketch or outline of the main issues involved is presented here. The presentation here, is therefore, meant to be suggestive rather than conclusive.  These international institutions compelled or imposed State intervention policies in Third World Nations, generally referred to as the Structural Adjustment Programmes (SAP).  In particular, we intend to examine critically, the negative effects of these political and strategic World Bank and IMF imposed intervention economic policies and programmes on the economies of these Third World Nations, especially on their monetary and fiscal policies.  This is what we have termed here, the “Politics of Money” and their consequences on the value of the currencies of these Third World Nations, especially on the Nigerian currency, the Naira.

 Keywords: Politics of Money, Value of Naira, Deregulation, Structural Adjustment Programme, State Intervention, Capital Accumulation, Developing Nations, World Bank, the IMF.