Role and Importance of IMF in Financial Crises: 1997 Asia and 2000 Turkey Crises States and markets have been continuously shaped by the developments such as globalisation, technological advancement and increasing competition since 1990s. In this period of time, markets have been faced with both new opportunities and dangers. The phenomenon of financial integration, which is considered as one of the primary opportunities for states, might lead to both economic development and financial crises. Financial integration theory, which is based on the understanding that when domestic savings are insufficient, foreign savings could provide resources for domestic investment and economic growth, has considered as identical with financial crisis in practise. The most active institution for financial integration is undoubtedly IMF. IMF, where main aim is to regulate international financial activities and to establish monetary stability, is questioned due to the level of financial integration and the crises occurred in the process of integration. IMF is questioned about not successfully predicting crises the wrong economy policies it suggest and not taking into account the peculiar and particular conditions of countries. This study considers whether IMF has any role in recent economic crises in Asia and Turkey or not. The study concludes that IMF has some roles in economic crises in the light of this conclusion it suggest to reform itself to minimize its role in economic crises.