Washington is at its best in the spring. Green shoots pop out, daffodils and magnolias are in full bloom and the cherry blossoms cast a pink halo over the city. After a long, cold winter, there is hope everywhere.
And so it was with the 2015 Spring Meetings of the IMF and World Bank. Hope was in the air—would the global economy avoid the “new mediocre” from becoming the “new reality?” Would Greece reach agreement with its creditors? Would there be progress on IMF governance reform?