How to fix the International Monetary Fund

EVER SINCE it was founded in 1944, the imf has had to get used to reinventing itself. Today, however, it faces an identity crisis like none before. The fund, whose annual spring jamboree kicks off on April 10th, is supposed to provide a financial safety-net for countries in distress. Yet, although the poor world is in the throes of the worst debt crisis in decades, the fund seems all but unable to lend. The fund has hundreds of billions of dollars of spare firepower and has sought more from its members. However, since the pandemic began its loan book has grown by a paltry $51bn.