This paper proposes a theory on the interference of World Bank and IMF programs with domestic politics by changing the prevailing power balance between pro-democratic and anti-democratic forces. However, World Bank and IMF programs differ in design and impact. Thus, the question arises whether...

Introduced in 1999, poverty reduction strategies (PRS) are currently the World Bank and IMF’s main instrument to regulate access to debt relief and concessional financing from both institutions. By replacing the former structural adjustment programs this new approach seeks to increase the...