IMF makes terrible forecasts: Bhagwati

Noted economist Jagdish Bhagwati suggested that IMF should be abolished as it is consistently making ‘terrible’ forecasts. His remarks come a day after the Fund cut India’s economic growth projections by 0.5 percentage points to 6.7 per cent for the current financial year. “It is not easy to make forecasts. When you ask me would you make forecast? I say I have a reputation to lose, don't ask me that,” Bhagwati told a news channel in New York.