Dampak Peran World Bank Dan Imf Terhadap Pertumbuhan Ekonomi Global
DOI:
https://doi.org/10.21111/ijtihad.v19i2.14979Keywords:
IMF, World Bank, Policy Sovereignty, Macro-StabilizationAbstract
This article examines the impact of conditionality imposed by the International Monetary Fund (IMF) and the World Bank on the policy sovereignty of borrowing countries, and evaluates whether the long-term benefits (macro-stabilization and recovery) outweigh the debt burden and social pressures generated. Combining a juridical-normative approach with descriptive-analytic review of lending data for 2020–2023 and case studies from Indonesia, Ghana, and Kenya, the study finds that conditionality operates as a form of contractual “soft law” that effectively narrows domestic policy space. While multilateral lending supports short-term liquidity stabilization and recovery, its side effects include higher debt ratios, constrained social spending, and the risk of political tensions when social mitigation is insufficient. Key recommendations include codifying loan-acceptance procedures into domestic law, mandatory transparency and legislative approval, human-rights impact assessments, social-protection clauses, and strengthening recipient countries’ negotiation capacity.References
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