You say taking your medicine will never work, but it has worked at least in some places. India was in an economic crisis in 1991 and needed an IMF bailout. That bailout was made under the condition that they “took their medicine”. They did, fundamentally changing their approach to everything related to the economy. And it worked. India has done pretty well since 1991.

I agree that many countries never fall out of the cycle of lurching from bailout to bailout, never implementing the needed reforms because they’re too painful. Pakistan, Egypt, Argentina and others, that’s the norm for countries in IMF programs. But there are success stories too.