The International Monetary Fund (IMF) acting as the international lender of last resort has been subject to a range of criticism, mostly focused on conditionality attached to its bailout loans. Are these criticisms justified? Be sure to discuss the evolution of the content and focus of IMF conditionality. Discuss with reference to empirical evidence from financial crises in emerging markets of the 1980s and 1990s as well as the Global Financial Crisis of 2008 to support your argument.