Please read http://www.ieo-imf.org/ieo/files/completedevaluations/Executive%20Summary%20Print.pdf http://www.ieo-imf.org/ieo/files/completedevaluations/Execut..

Please read http://www.ieo-imf.org/ieo/files/completedevaluations/Executive%20Summary%20Print.pdf http://www.ieo-imf.org/ieo/files/completedevaluations/Execut... before you comment. The best of many good sentences IMO: "Lessons from past crises were not always applied, for example when the IMF underestimated the likely negative response of private creditors to a high-risk program".