The IMF is pathetic, but in such a hilarious way! As you know, the ultimate predatory lender is virtually dead in Latin America because of …well because of Venezuela.
They’re freaked, and they’re lashing out. In their latest World Economic Outlook report, they "predict" that Venezuela will have the worst economic growth in all of Latin America this year. That’s nice, considering the country had the highest growth in the region for the last three years. Three thoughts here:
1. These people lie for a living, but usually they make an attempt at plausibility.
2. At least Venezuela will still be around by end of the year.
3. They are hyping Panama as the next big investment hub. Honestly, if you have any Panamanian investments/holdings/family members, get them out now. This is the kiss of death.
Oh! In other Panamanian news: this.
BTW: The IMF has never even been close on their Venezuela forecast, as CEPR points out. (PDF)
