Funny How……We now listen to the IMF’s forecasts

Increasingly over the past year or so, more and more media attention has been paid to the financial forecasting opinions of the likes of the IMF, the Bank of England, the Federal Reserve and the ECB.

Why do the opinions of these bodies economic teams suddenly hold merit?

After all, none of them told us about financial crisis that was looming in 2007.

So why believe them now?