IMF Warns UK Still a Long Way From Recovery

The UK economy is still a long way from “a strong and sustainable recovery”, the International Monetary Fund (IMF) has warned.

In its concluding statement on its mission to the UK, the IMF said austerity measures were acting as a drag on the economy.

The government could do more to offset the negative impact of austerity with infrastructure spending, it said.

George Osborne said the UK would not “duck its economic challenges”.

The IMF acknowledged that the UK’s austerity programme had earned the government international credibility.

But speaking at a press conference in London, its deputy managing director, David Lipton, said the view of the IMF was that the UK should consider slowing the pace of cuts.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza