How has the IMF fared during the pandemic?

A YEAR AGO,IMFIMF crisis gripped the global economy. The world’s multilateral lender of last resort swung into action. Speaking ahead of the spring meetings of the and World Bank, which start on April 5th, Kristalina Georgieva, the fund’s managing director, hailed its “unprecedented” actions, including new financing for 85 countries and debt-service relief for 29 poor countries. More help is on the way. But is it enough?The offers its members a financial lifeline when they run out of cash. Its support typically comes with demands for policy reforms and debt restructuring where needed, to ensure that borrowers’ debts are sustainable. Such conditionality helps guard the fund’s resources and avoid bailing out other creditors. Going easy on borrowers today could encourage laxity in future, inviting more crises.