IMF ‘In Awe’ of Rich Nations Missed Coming Crisis

By Sandrine Rastello – A report gauging the IMF’s performance from 2004 through 2007 said its economists were sometimes “in awe of” the authorities’ reputation and expertise in larger nations.

“IMF staff felt uncomfortable challenging the views of authorities in advanced economies on monetary and regulatory issues, given the authorities’ greater access to banking data and knowledge of...