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IMF Chief-'Expect PM Sunak To Steer UK To MT Fiscal Sustainability'

UK

Speaking to Reuters, IMF managing director Kristalina Georgieva states that she expects new UK Prime Minister Rishi Sunak to 'steer the United Kingdom towards the path of medium-term fiscal sustainability'. Also expects to speak to UK Chancellor of the Exchequer Jeremy Hunt in the coming days.

  • Comes as PM Sunak prepares for his first prime minister's questions in the House of Commons at 1200BST (0700ET, 1300CET). Livestream: https://www.parliamentlive.tv/Event/Index/0176524f...
  • Regarding the planned 31 October medium-term fiscal plan from Chancellor Jeremy Hunt there is still no concrete confirmation of it going ahead as planned. The re-appointment of Hunt as chancellor in yesterday's Rish-uffle was seen as an attempt to quell markets and signal stability at the Treasury.
  • However, this morning re-appointed Foreign Secretary James Cleverly refused to commit to the Oct 31 date and there is speculation that today's meeting between Sunak and Hunt could see a suspension of the MTFP date to allow the new PM greater input on the plans.
  • Cabinet appointments to continue this afternoon, with junior ministers and principal private secretaries set to be selected.
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