The concept of a financial crisis can be explained as a disturbance in the financial markets which is characterized by a sharp fall in asset prices and the failure of many financial and nonfinancial companies. The financial crisis of 2008. has grown into a global economic crisis that started in the US and spilled over to Europe and then to the rest of the world. The first chapter of the paper analyzes the beginning, the causes, the consequences of the global economic crisis and the economic trends during and after the global crisis for the world economy, the economy of the European Union, the PIIGS countries and the Republic of Croatia. The next chapter defines the International Monetary Fund as an international institution whose operations include surveillance, financial and technical assistance for member countries to meet the changing needs of the evolving world economy. Furthermore, the IMF's existing loan program and new credit lines are explained, as well as concrete examples of help during the crisis. Before the conclusion, the cooperation of the IMF and the European countries in need of financial assistance is explained.