IMF committed a major blunder approving an unprecedentedly large loan to Argentina in mid-2018

By approving an unprecedentedly large loan to Argentina in mid-2018, despite the country's failure to meet basic borrowing conditions, the International Monetary Fund committed a major blunder. 

Fortunately, blunders of that magnitude are uncommon. The only comparable misjudgment was the Fund’s $30 billion loan to the Greek government in 2010 (the largest-ever IMF loan at the time), when it was plain as a pikestaff that Greece was headed for a sovereign default, which came in 2012. 

The IMF hid behind its preferred creditor status and avoided a haircut on that occasion. It must not do so this time. 

Willem H. Buiter Project Syndicate 16 February 2022

https://www.project-syndicate.org/commentary/imf-argentina-blunder-calls-for-debt-restructuring-by-willem-h-buiter-2022-02

Questions may also be asked about the IMF’s record-breaking rescue package for Argentina, with which its outgoing director Christine Lagarde was closely associated.

F T 12 August 2019

https://englundmacro.blogspot.com/2019/08/argentinas-48-stock-rout.html

Greece's onerous obligations to the IMF, the European Central Bank and European governments can be traced back to April 2010, when they made a fateful mistake. 

Instead of allowing Greece to default on its insurmountable debts to private creditors, they chose to lend it the money to pay in full.

Ashoka Mody, Bruegel 21st April 2015

https://englundmacro.blogspot.com/2015/06/ar-imfs-lagarde-for-eu-lydig.html