George Osborne welcomes IMF verdict on economy
The International Monetary Fund (IMF) has said the UK economy is "on the mend" and has backed the coalition government's plans to cut spending.
The IMF described the deficit reduction plan as "essential" in supporting the UK's debt position, and said it "supported a balanced recovery".
The IMF predicted growth of 2% in 2011, rising to 2.5% in the medium term.
Chancellor George Osborne welcomed the body's verdict, saying it vindicated his economic strategy.
