IMF warns of risk of cutting

first_img whatsapp Share Show Comments ▼ whatsapp THE government would have to revisit its plans for deep spending cuts if growth substantially disappoints, the International Monetary Fund warned yesterday. Speaking at the launch of the agency’s World Economic Outlook report, which cut the UK’s projected rate of growth from 2.1 per cent to two per cent, the fund’s chief economist Olivier Blanchard said the UK’s plans would have a negative impact on growth.The comments contradict the IMF’s recent report praising the government’s plans to slash spending, and Blanchard said the warning on cutting too much, too fast applied to all advanced economics, not just the UK.The IMF reduced its forecast for world growth next year from 4.3 per cent to 4.2 per cent and warned that the global recovery could fizzle out. It highlighted the dangers associated with yawning public sector pensions stretching finances to breaking point. The IMF’s report came as the head of the World Bank praised the government’s determination to cut Britain’s huge debt, saying that its actions were “courageous and wise”. Robert Zoellick said that the debts carried by many countries after the economic crisis would potentially sow the seeds of a future crisis. KCS-content IMF warns of risk of cutting center_img Wednesday 6 October 2010 9:02 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Tags: NULLlast_img

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