But in cases involving the largest countries and capital markets, the IMF has played, and must continue to play, the role of coordinator of funds from a variety of sources (a role it adopted most noticeably in the Mexican and Korean crises) or that of a catalyst to restore confidence (as in Brazil in 2002).
Olli Rehn: A globally symmetric crisis calls for a globally coordinated and forceful policy response Remarks by Mr Olli Rehn, Governor of the Bank of Finland, at the Reinventing Bretton Woods Committee Panel Discussion on “The world economy transformed: Reflections on policy responses and the future post pandemic monetary architecture”, in the context of the virtual IMF Spring Meetings, Washington DC, 17 April 2020.