News Summary: IMF warns Britain more growth needed

News Summary: IMF praises British gov't flexibility on austerity, but warns more growth needed

Associated Press

RECOVERY PUSH: The International Monetary Fund called on Britain to do more to stimulate economic activity, urging a speed up in infrastructure investment that could create jobs.

AUSTERITY: In a review of Britain's policies, the IMF applauded the greater flexibility on austerity measures shown by Treasury chief George Osborne. But it warned that more needed to be done for the economy.

BAILED OUT BANKS: The IMF also urged the government to develop a strategy to privatize two banks which received government funding to stay afloat. Government plans to return the Royal Bank of Scotland and Lloyds to private ownership remain unclear.

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