IMF warns pound could be at risk from uncertainty

Telegraph
"In a report published yesterday following a staff mission to Britain in May, the IMF said that a "credible plan" was needed to reverse the rapid deterioration of the public finances if confidence in the UK was to be upheld. ....The IMF said the structural fiscal position was weak even before the financial crisis erupted and predicted gross debt is set to double over the next five years to 100pc of gross domestic product.George Osborne, the shadow chancellor, said: "The IMF could hardly have delivered a more damning verdict on the Brown years - and it vindicates Conservative warnings about the debt crisis."