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The IMF is perhaps the most important and least understood global economic institution in the world today. But it has lost some of its mojo since the backlash against globalization started a few years ago—a globalization that it helped encourage through its free-market policy prescriptions. How relevant is it in a more shock-prone world that is increasingly nationalistic, protectionist, and anti-democratic? And what is it doing to address today’s serious global crises?