Lord Blencathra – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Blencathra on 2016-07-20.

To ask Her Majesty’s Government how many International Monetary Fund (IMF) reports have, since 2006, (1) commented on the state of the UK economy; (2) commented on the state of the UK economy and have been shown to be erroneous; and (3) made comments on the state of the UK economy that the IMF have had to revise or retract due to the inaccuracy of the forecast.

Lord O’Neill of Gatley

The information requested in relation to the evaluation of comments and forecasts about the UK could only be provided at disproportionate cost. However, the Independent Evaluation Office of the IMF produce a report evaluating the forecasts of the organisation and the most recent one was published in 2014.

The UK economy is assessed by the IMF on an annual basis as part of the Article IV process. The IMF also produce quarterly forecasts for the UK economy in their World Economic Outlook (WEO) reports and WEO Updates.

Article IV reports and World Economic Outlooks and Updates are readily available on the IMF website and include recent revisions to forecasts.