In view of improved fundamentals and the allegedly increasing role of regional assistance mechanism, the question has been raised as to whether the lending function of the Fund is still needed. And this has led to the more provocative question: If IMF lending is no longer needed, why do we need the Fund at all?
By contrast, other people have suggested a more active role for the Fund before a crisis arises. They have suggested the introduction of new instruments for the Fund which, if accepted, would transform the IMF into an insurance arrangement with farreaching consequences.