THE International Monetary Fund has cut its forecasts of UK growth for 2013 and 2014, as worries grow that the country is about to lose its coveted AAA sovereign credit rating.
In an update to its World Economic Outlook, published yesterday, the IMF reduced its forecast of growth in 2013 to 1%, from the 1.1% rate it had projected in October. And it cut its prediction of expansion in 2014 from 2.2% to 1.9%.
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