For years after the global crash of 2008, the International Monetary Fund
continued to forecast 3 percent annual economic growth for countries on Level 4.
Each year, for five years, countries on Level 4 failed to meet this forecast.
Each year, for five years, the IMF said, “Next year it will get back on track.”
Finally, the IMF realized that there was no “normal” to go back to, and it
downgraded its future growth expectations to 2 percent. At the same time the IMF
acknowledged that the fast growth (above 5 percent) during those years had
instead happened in countries on Level 2, like Ghana, Nigeria, Ethiopia, and
Kenya in Africa, and Bangladesh in Asia.