Economy

IMF chief expects UK PM Sunak government to adhere to fiscal discipline by Stocksak


© Stocksak. Britain’s new Prime Minister Rishi Sonak waves as he enters Number 10 Downing Street in London, Britain, October 25, 2022. REUTERS/Henry Nicholls

By Christian Kraemer

BERLIN (Stocksak), Wednesday, Kristalina Georgieva, chief of IMF, stated that she expected Rishi Sunak, the new Prime Minister of Britain to steer Britain towards fiscal sustainability. He also warned the public about difficult decisions ahead.

Georgieva, speaking to Stocksak Berlin, praised Sunak’s clarity and constructive attitude. She knew Sunak from his time in the finance ministry.

She anticipates speaking to the newly appointed finance minister Jeremy Hunt within the next few days.

“The new prime minster comes with a platform that was shaped during his years as a chancellor. It’s one of being very prudent and bringing fiscal discipline in Britain,” she stated.

“I listened to him talk to the British people and this message should resonate throughout the world. These are difficult times and these tough times require hard decisions.”

Sunak, Britain’s third prime Minister in just two months, was elected Tuesday. He pledged to lead the country through a deep economic crisis and rebuild public trust in politics.

According to The Times newspaper, Sunak may delay a planned fiscal report next week to fill a gap of 40 billion pounds ($46 trillion) in the UK’s finances.

James Cleverly, the foreign minister, stated Wednesday that a brief delay would not be a bad thing to ensure the government receives the fiscal statement correctly.

Georgieva answered questions about the issue and said that she did not anticipate any changes to the publication of the statement.

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