Argument: IMF bailouts worked in the Mexico peso crisis
"A Retrospective on the Mexican Bailout." The Cato Institute. Winter 2002: "The International Monetary Fund’s bailout of Mexico in 1995 was a success because it restored confidence in the collapsing peso, led to a quick economic recovery, and possibly stemmed the outbreak of a global systemic financial crisis. The bailout, moreover, helped keep Mexico on a market-oriented track."