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IMF chief praises the coalition's economic strategy

International Monetary Fund chief Christine Lagarde praised the coalition's management of the British economy, saying it provides the right balance of spending cuts and taxes to deliver growth.

Lagarde said the Conservatives and Lib Dem strategy is "clearly delivering results" when compared with other European economies.

International Monetary Fund chief Christine Lagarde. Credit: DPA/PA Images

The UK government demonstrated it was capable of adjusting to the economic reality by delivering spending cuts and revenue raising at a pace that is right for the British economy, she added.

Lagarde's comments come at a crucial point in the General Election campaign, with just 20 days to go.

Greece and IMF set for further finance talks

Greece's finance minister Yanis Varoufakis is due to meet with the International Monetary Fund's Christine Lagarde on Sunday to continue discussions of the planned reforms that Athens hopes will unlock the bailout funds Greece needs.

The finance ministry and the IMF confirmed Varoufakis and Lagarde would be meeting in Washington for "an informal discussion".

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