The world has been saved but unfortunately that was the easy part. Keeping the recovery going and putting in place an economic structure and body of regulation that prevents a reoccurrence are the major challenges ahead.
These will be the key topics of discussion as the world's banking community descends on Istanbul for this year's World Bank/IMF annual meetings. Delegates will be relieved not to be to be staring into the abyss, as they were last year in the wake of the Lehman Brothers collapse, but their task of work is no easier.
Concentrating minds from the major global powers - with a wide array of different interests - is just about achievable when a crisis is in full swing, but getting co-operation from there on becomes increasingly difficult.
The crisis has indeed put the IMF back at centre stage in international economic matters - a contrast to its previous position, when some commentators were doubting whether it had a useful future.
High on the agenda of the G-20 summit in Pittsburgh was global trade imbalances and a proposed monitoring mechanism to watch for the building up of large trade surpluses and deficits will likely be overseen by the IMF.
The IMF has also gone some way towards making itself more user-friendly with, in particular, the development of the Flexible Credit Line taken up by Mexico, Colombia and Poland, and there have been some moves to change the voting rights which strongly favour the US and Europe.
In our special coverage for the meetings we look at many of the critical issues, such as the role of credit rating agencies, bankers' compensation, financial regulation, financial inclusion in India and the rise of Shanghai as an international financial centre. To help frame the debate we have contributions and interviews from former IMF managing director Jacques de Larosière, South Africa's finance minister Pravin Gordhan, Thailand's finance minister Korn Chatikavanij, Iceland's prime minister Jóhanna Sigurdardóttir among many others.
To kick us off, former United Nations secretary-general Kofi Annan looks at how the fallout from the crisis is hurting Africa.
