The crisis at the International Monetary Fund goes far beyond whether Managing Director Kristalina Georgieva clings to her job or is pushed out less than halfway through her five-year term. The IMF increasingly resembles a relic striving to be inoffensive yet important. Its top priorities need to be clarity of mission, figuring how to use its considerable resources, and coming to terms with a more marginalized role. The lender could use a few red lines, too.
Created in 1944 to help manage the post-World War II global economy, the IMF no longer knows what it stands for. Key parts of