The Implications of Conditionality: The International Monetary Fund and Africa

Professor Anunobi argues that the strong opposition to International Monetary Fund macroeconomic stabilisation policies in Africa indicates how difficult and painful it is to put an over-indebted economy on its feet within a short period of time. This brings out the book’s major criticism of the Fund, that is, that mainly the IMF takes a short-sighted view of the debtor’s successes in achieving financial and economic stability. This study attempts to address this discrepancy by examining the Fund-support adjustment programmes and the Third World’s economic problem in a systematic fashion by using Nigeria as a case study.