International organizations have for the last four decades blamed for their role in less developed and powerful countries. They have been regarded as instruments used by developed countries and major world powers through their multilateral trade, social, economic and political institutions to advance their influence at the disadvantage of the developing and less powerful countries. The economic strength of these powerful countries has been utilized to manipulate the international organizations for the benefit and achievement of these powers. For instance, the International Monetary Fund (IMF) has been widely regarded as the major international organization exploited by these major powers to advance the economic influence to less developed countries at their benefits. IMF is an international monetary and financial organization mandated with stabilization of world economic and trading environment. This organization is fully funded by the world’s largest powers and developed countries. Therefore, its operations and management is mostly dictated by these countries who act as donors to the organization (Raymond 2009).
In this consideration, IMF sets constraints to be achieved by less powerful countries for them to qualify for its financial and technical assistance in form of ‘conditionalities.’ More often than not, these policy constraints and prescriptions are meant to favor the more powerful countries. These conditionalities have resulted to more harm than good in less powerful countries especially in their efforts to develop their economies due to dictated and unfeasible trade and economic policies. For instance, the Structural Adjustment Programs (SAPs) recommended by IMF to African, Asian and South American countries benefited these powerful nations more than the implementing countries. Some of these conditions imposed by IMF are the privatization of state corporations. When this exercise is done, it is the multinational corporations, institutions, companies and institutions from these developed and powerful countries who buy these state corporations from developing countries. After acquisition of their control and management, they implement measures and policies that further suppress the host country’s efforts to develop economically through unfavorable trade policies they introduce besides massive capital freight to their mother countries in form of profits. Therefore these multilateral institutions from more powerful countries should not be allowed to use international organizations to benefit themselves at the expense of less developed and powerful countries (Martin 2010).