Financial crises represent disturbances in the financial market, characterized by property price drop and the collapse of financial and non-financial institutions. They are a natural phenomenon in the capitalist system and lead to its collapse. The nature of the financial crisis is their expansion to the real sector, resulting in recession and inflation. With the emergence of the process of globalization and liberalization that have led to the strengthening of social relations and the strengthening of the country's interdependence, the financial crisis limited to a particular country or region, is expanding rapidly on an international and global level. The globalization process has led to the creation of supranational organizations, institutions and associations and reduction of sovereignty of the state, and today the international financial system is monitored by three major institutions: the International Monetary Fund (IMF), the World Bank and the International Trade Organization (WTO). In 2008, the global financial crisis began, which required the response of the supervising financial institutions. The aim of the paper is to explain the role of the IMF in preventing the crisis. For this purpose, it explains the functions, role and organization of the IMF. Given the research objective and hypothesis, the paper argues the IMF's shortcomings and limitations, both in preventing and remedying the consequences of the crisis. The conclusion is that the IMF needs to reform its policy and to secure international liquidity in the treatment of the crisis.