 This forecast was criticized by Steve H. Hanke, professor of applied economics at The Johns Hopkins University and senior fellow at the Cato Institute.According to Hanke, the IMF had released a "bogus forecast" because "no one has ever been able to accurately forecast the course or the duration of an episode of hyperinflation.But that has not stopped the IMF from offering inflation forecasts for Venezuela that have proven to be wildly inaccurate".