The World Bank and IMF Accountability in Human Rights

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Abstract

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The World Bank and International Monetary Fund (IMF) are supranational organizations whose functions revolve around the economic development of states. While the mandate of each of these institutions as defined by its charter is unique, one common thread is the non-specific mention of human rights in their Articles of Agreement. Consequently, anomalies in the legal position of these International Financial Institutions (IFIs) regarding human rights have appeared to enable them to operate without being subjected to any effective legal control. Therefore there is a need to expand international human rights protection against these non-state actors. This article while examining the existing capacity of independent and quasi-independent institutional accountability toward human rights for the World Bank and the IMF, investigates those international legal principles they comply with and how they should be implemented.   

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