Not that I know anything...

...about international banking but I was more than just intrigued by comments made by the new IMF head who, when asked to define "challenges" said

You have sovereign debt issues in most of the advanced countries. This is most acute in a monetary zone called the euro zone—which I’m very familiar with—but it’s not the only one. The sovereign debt issue is pretty much all over the place in the advanced economies, from Japan to the United States, and obviously epitomized in the European Union, and the euro zone in particular.

The role and function of the IMF has been described as

...to provide financial assistance to countries that experience serious financial and economic difficulties using funds deposited with the IMF from the institution’s 187 member countries...In return, countries are usually required to launch certain reforms, which have often been dubbed the Washington Consensus.

The World Bank has data on Gross National Income per capita, some of which can which can be described graphically as thus;

When you consider that the IMF have been doing this business since 1945 you could wonder at the success of such a strategy - despite the required "reforms" (codename: Neoliberalism) and in spite of enormous resources moving to the high income countries

sovereign debt issue is pretty much all over the place in the advanced economies

Given the current state of uncertainty you might well wonder how the IMF define "failure."