Zambia: Condemned to debt - How the IMF and World Bank have undermined development

Despite the disadvantage of being land-locked, Zambia was once one of
the wealthiest countries in sub-Saharan Africa. This began to change in
the early 1970s. After the oil crisis (increasing the price of imports) and
relative commodity price collapse (reducing the revenue from exports),
Zambia had to turn to the International Monetary Fund (IMF) and World
Bank for assistance. So began some thirty years of Bank and Fund
intervention in the Zambian economy. In return for loans, Zambia was
required to implement Bank and Fund endorsed economic policies over
three decades. Unfortunately, this period is a sad story of increasing debt,
economic stagnation or collapse, and social crisis.