UK Chancellor Rachel Reeves. — Bloomberg
LONDON: UK Chancellor Rachel Reeves could face a market backlash unless she makes rapid efforts to stabilise the national debt, the International Monetary Fund warns.The Washington-based fund said in a chapter of its Fiscal Monitor that debt risks in the United Kingdom “were elevated” and the “lack of credible plans for dealing with it can trigger adverse market reactions”.
It proposed tax rises and spending cuts, adding that postponing the decision would be “risky” and “only make the required correction larger”.
