In the late 1960s and early 1970s Sub-Saharan Africa experienced an unprecedented economic crisis shutting the exhilarating expectations of economic stability and development associated with independence. In response to the African abysmal economic decline, the Structural Adjustment Programme...

In the wake of the global crisis the International Monetary Fund (IMF) increased its exposure to low-and middle-income countries and boosted the overhaul of its lending approach to enhance its role in preventing crises. This paper tests whether IMF lending has targeted countries most affected by...