THE IMF URGED BRITISH PRIME MINISTER-DESIGNATE BURNHAM TO AVOID A FINANCIAL RUN-OFF, CLAIMING THAT THE DAMAGE TO BRITISH DEBT FOLLOWING THE CRISIS IN TLAX REMAINED

ON 16 JULY, THE INTERNATIONAL MONETARY FUND (IMF) WARNED BRITISH PRIME MINISTER-DESIGNATE ANDY BURNHAM THAT THE 2022 LIZ TRAS BUDGET CRISIS HAD CAUSED PERMANENT WOUNDS AND MADE THE BRITISH TREASURY MARKET MORE SENSITIVE TO BRITISH FISCAL POLICY. ACCORDING TO THE IMF, THE BOND MARKET WAS “INSTITUTIONALLY TRANSFORMED” AFTER THE MINI-BUDGET CASE OF FORMER PRIME MINISTER TRAS NEARLY FOUR YEARS AGO TRIGGERED MARKET VOLATILITY. AT THAT TIME, THE TARAS PLAN TO RAISE SPENDING AND REDUCE TAXES, WITH AN UNKNOWN SOURCE OF FUNDING OF TENS OF BILLIONS OF POUNDS, WAS EVENTUALLY WITHDRAWN AFTER STRONG INVESTOR OPPOSITION。