John Lipsky
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IMF cuts UK growth forecast for 2011

The International Monetary Fund (IMF) has cut its forecast for growth for the UK economy for this year from 2% to 1.5%.

It said there had been unexpected weaknesses in the economy during the past few months.

The IMF gave broad backing to the government's approach to tackling the deficit saying the spending cuts and tax rises remained essential.

However, the deputy director of the IMF, John Lipsky, said the unemployment rate remains unacceptably high.

  • 06 Jun 2011