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Global Governance of Finance and African Relations with the World

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The Palgrave Handbook of Africa and the Changing Global Order

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Abstract

Africa’s relations with the global financial system has been largely informed by the need to secure capital for development projects. The Bretton Woods institutions, namely the International Monetary Fund and the World Bank have been charged with helping countries grappling with macroeconomic problems and development challenges. The chapter examines the debates on the global and continental context of finance and African relations with the world. The chapter examines the implications of global governance of finances on Africa’s economies. Situating the African financial crisis and development within the International Monetary Fund as a point of interrogation, the paper analyzes the appropriateness of IMF loans to African countries, determine the conditions of these loans, and highlight the internal functioning of IMF itself. The chapter shows that the global governance has varied implications for economic development in different countries in Africa.

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Authors and Affiliations

  1. Department of Politics and International Relations, University of Johannesburg, Johannesburg, South Africa

    Tinuade Adekunbi Ojo

  2. Institute of African Studies, Carleton University, Ottawa, ON, Canada

    Samuel Ojo Oloruntoba

  3. Thabo Mbeki School of Public and International Affairs, University of South Africa, Pretoria, South Africa

    Samuel Ojo Oloruntoba

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  1. Tinuade Adekunbi Ojo
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  2. Samuel Ojo Oloruntoba
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Editors and Affiliations

  1. Institute of African Studies, Carleton University, Ottawa, ON, Canada

    Samuel Ojo Oloruntoba

  2. Thabo Mbeki School of Public and International Affairs, University of South Africa, Pretoria, South Africa

    Samuel Ojo Oloruntoba

  3. Department of History, University of Texas at Austin, Austin, TX, USA

    Toyin Falola

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Ojo, T.A., Oloruntoba, S.O. (2022). Global Governance of Finance and African Relations with the World. In: Oloruntoba, S.O., Falola, T. (eds) The Palgrave Handbook of Africa and the Changing Global Order. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-77481-3_21

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