Socialism is not a word understood by many and thus introducing it as a solution to the impending world financial crisis prior to the current situation of the (supposed pandemic) would have resulted in a universal magnitude revolt.
So, the think tank at the IMF decided that the only way of introducing an opposition to untrammelled workings of the economic market was by changing the definition and re packaging it in such a way that the unquestioning gullible masses could be lulled into accepting a new norm and not even notice the evolutionary transition.