Taken together, these steps address the core problems – the stigma associated in the past with IMF conditionality, the availability of early pre-crisis financing, and the overall size of rescue packages – that have sometimes diminished the effectiveness of the Fund’s role as a crisis lender. Emerging markets that approach the IMF early on for pre-crisis financing will find shelter from the winds of global deleveraging, which in turn will help contain the spread of the crisis.