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It is an error raised when an input/output operation fails, such as the print statement or the open() function when trying to open a file that does not exist. It is also raised for operating system-related errors.
If the given code is written in a try block, it raises an input/output exception, which is handled in the except block as shown given below
import sys
def whatever():
try:
f = open ( "foo.txt", 'r' )
except IOError, e:
print e
print sys.exc_type
whatever()
OUTPUT
[Errno 2] No such file or directory: 'foo.txt'
<type 'exceptions.IOError'>