Reeves arrives at IMF with little leeway to prove its UK downgrade wrong

Chancellor faced with fund’s forecast that impact of Iran war will leave Britain as G7’s biggest loserIran war escalation could trigger global recession, IMF warnsThe Iran war is bad news for the global economy. But for some countries, the unfolding conflict is having a bigger impact than for others. The International Monetary Fund’s verdict is that Britain is the G7’s biggest loser.Amid the rising damage from the Middle East war, the Washington-based fund warned UK economic growth rate would be 0.5 percentage points lower this year than it had predicted back in January – the biggest downgrade among the club of wealthy nations. Continue reading...