ROLE OF INTERNATIONAL FINANCIAL INSTITUTION IN THE DEVELOPMENT OF THE NIGERIA ECONOMY
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ROLE OF INTERNATIONAL FINANCIAL INSTITUTION IN THE DEVELOPMENT OF THE NIGERIA ECONOMY
THE ROLE OF INTERNATIONAL FINANCIAL INSTITUTIONS IN THE DEVELOPMENT OF THE NIGERIAN ECONOMY
This study attempts to investigate how the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) aided the development of the Nigerian economy. In view of organisational goals, the necessity for international financial institutions (IMF, IBRD) is critical.
The motivation for doing this research is to investigate the role of international financial institutions (IMF, IBRD) in projects undertaken by the organisation, as well as projects linked to agriculture, education, industry, and so on.
INTRODUCTION TO CHAPTER ONE
Background of The Study
Financial institutions play an important role in the growth of an economy. They engage in financial intermediation, which means they offer the necessary financial resources to the various sectors of the economy where they are needed for development. Because of the critical role they play in the economy, these institutions are recognised as crucial agents in the economic development process on every occasion, whether in emerging and developed economies.
Statement of the Problem
Today, numerous roles are expected of international financial institutions in our country (Nigeria) to help the Nigerian economy thrive. The international monetary fund (IMF), the International Bank for Reconstruction and Development (IBRD), and others are among the institutions. The international monetary fund (IMF) is likely to play a role.
To enhance international monetary cooperation through a permanent institution that provides a mechanism for consultation and discussion on international financial issues?
Facilitate the expansion and balanced growth of international trade, and so contribute to the promotion and maintenance of high levels of employment and real income, as well as the development of all member states’ productive resources.
The International Bank for Reconstruction and Development (IBRD) is expected to play certain roles.
To reduce the length of loans granted to emerging countries such as Nigeria.
To provide assistance with a wide range of projects in agriculture, education, industry, electricity, rural development, tourism, transportation, population planning, water supply, and telecommunications.
Purpose/Objective ofn The Study
These jobs are required to evaluate how the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) contribute to the development of the Nigerian economy. The goal of this study is to examine the various problems and prospects of international financial institutions (IMF, IBRD).
1. To research how to provide financial and technical assistance to poor countries for development.
2. To investigate the manner in which the bank charges interest rates.
3. To examine ways to finance the nations’ significant economic development demands.
4. Investigate how the bank emphasises repayment capacity in its financing.
The Significance of the Research
This research will benefit many people who are interested in financial institutions such as the IMF and the IBRD.
Investors: The research will be extremely beneficial to investors. It will assist them understand how to invest in developing-country commercial firms.
Students of banking and finance: this will serve as a source of secondary data for students of banking and finance, as well as lending their field of research.
The government should be aware of the issues confronting the international financial institutions (IMF, IBRD).
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