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In the letter, dated 18 June and obtained by the US broadcaster CNN, Mr Doyle said the failings of IMF surveillance of the financial crisis "are, if anything, becoming more deeply entrenched".
He writes: "This fact is most clear in regard to appointments for managing director which, over the past decade, have all-too-evidently been disastrous.
Even the current incumbent [Christine Lagarde] is tainted, as neither her gender, integrity, or elan can make up for the fundamental illegitimacy of the selection process.
The IMF could not be reached immediately by the BBC. However, CNN reported that a Fund spokesman told it that there was nothing to substantiate Mr Doyle's claims and that the IMF had held its own investigations into surveillance of the financial crisis.
The rats everywhere are now jumping furiously off the titanic, but few had taken the time to write a letter explaining in detail just how cracked and broken the hull really was. This has now changed, with the departure of Peter Doyle, formerly a division chief in the IMF’s European Department responsible for non-crisis countries and currently an adviser to the Fund. Not content with quietly slinking off the scandal ridden organization which has become the butt of all jokes in the international community, where humor about Lagarde's Louis Vuitton panhandling bag is as pervasive as punchlines about just how incompetent the organization is at actually doing its duty, Doyle has penned the following scathing letter which tears down every myth about the IMF: from its impartiality, to the selection process of its head, to its effectiveness. The letter also contains the following gem: "After twenty years of service, I am ashamed to have had any association with the Fund at all." Pretty much says it all. This is a scandal in the making, and one which may shake to the core the credibility of the IMF in the context of international organization.