Editorial: IMF estimates force reality check:

04/23/2009 | Financial Times (free content)

Updated International Monetary Fund forecasts "leave no room for wishful thinking, and force us to realise there is more pain to come," according to a Financial Times editorial rejecting calls by some governments to do away with the monthly updates. "For another important lesson of the IMF's report is that the recession in the real economy is compounding losses that originated in finance: conventional loans, not exotic securities, make up half of the forecast writedowns," the newspaper noted.

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