Desmond Lachman | AEIdeas
The International Monetary Fund's track record in economic forecasting leaves a lot to be desired. It failed to anticipate the Asian economic crisis in 1998, the global Great Recession of 2008–09, and the European sovereign debt crisis of 2010. There's now every prospect that before 2018 is out, its latest economic outlook will be seen once again to have been wildly optimistic and blind to the real risks confronting the world's economic recovery.
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