Britain’s debt ‘disturbing but more needed’: IMF chief

Britain's debt 'disturbing but more needed': IMF chief

IMF chief describes Britain's public debt 'disturbing' but says more is needed to stimulate the economy

Dominique Strauss-Kahn, head of the International Monetary Fund (IMF), told
BBC Radio the outlook for the global economy was worsening, describing 2009 ‘as
really being a bad year’.

He painted a dismal picture, describing the level of Britain’s public debt as
‘disturbing’, but recommending it be increased to finance further fiscal
stimulus, The Times reports.

Strauss-Kahn said IMF, which last month reduced its forecast for global
economic growth in 2009 from 3% to 2.2%, might go even lower in its January
forecast because governments around the world had failed to inject enough money
in their economies.

He called for a global stimulus package equal to about 2% of the world’s
collective GDP, or $1.2tn, which means Britain would need almost £10bn more to
stabilise the economy.

Further reading:

Read
the BBC News storey

Read
The Times story

Related Articles

Shadow chancellor raises the heat on accountants

Politics Shadow chancellor raises the heat on accountants

2m Lawrie Holmes, Editor, Financial Director
Defence funding at an all-time low, ICAEW reports

Politics Defence funding at an all-time low, ICAEW reports

2m Emanuela Hawker, Reporter
Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

Brexit Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

8m Alia Shoaib, Reporter
HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

Big Four HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

8m Alia Shoaib, Reporter
Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

Budget Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

9m Emma Smith, Managing Editor
Spring Statement live feed

Budget Spring Statement live feed

9m Emma Smith, Managing Editor
Spring Statement 2018: 5 things to look out for

Brexit & Economy Spring Statement 2018: 5 things to look out for

9m Alia Shoaib, Reporter
Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

Politics Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

11m Emma Smith, Managing Editor