In his report on the UK economy, the International Monetary Fund indicated that both fiscal and monetary stimuli remain essential. IMF Managing Director Kristalina Georgieva stated that IMF policy Bank of england it should remain accommodative and that there is room for more stimulus, through an increase in bond purchases.
Georgieva He added that a second wave of COVID-19 infections is being seen in Europe. It stated that it is important for the UK that business and employment support programs continue to operate. “Fiscal consolidation should only occur once the private sector has regained strength in a lasting way,” said the director.
The technical staff of the IMF forecasts UK GDP to fall 10.4% in 2020 and grow 5.7% in 2021.
With respect to Brexi, Georgiva asked the two parties to do their best to reach an agreement. “The UK faces downside risks related to a prolonged impact of COVID-19 and a no-deal Brexit,” he concluded.
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Credits: Forex Street
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