Won't get fooled again: IMF warning shows it's learned from past errors | Larry Elliott

Fund failed to foresee 2007 financial crisis, but this time around, it is determined not to miss signs of trouble in global economy

The International Monetary Fund’s World Economic Outlook (WEO) runs to almost 300 pages, but it could be summed up by the title of the song with which the Who always brought their gigs to an end: Won’t Get Fooled Again.

In 2007, the IMF ended up with its reputation severely tarnished after failing to notice that the global economy was about to suffer its biggest recession since the 1930s Great Depression.

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from World news | The Guardian http://ift.tt/2yC753r

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