Renewed fears for Greece as it fails to entice a buyer for its biggest gas company. The beleaguered government sorely needs the money.
The IMF says plans to reduce government debt are holding the economy back. It's the most forthright criticism yet of Osborne's austerity.
The Chancellor has defended his recession-busting approach, and his record on taxing the rich, on the sidelines of the IMF meeting in Tokyo.
This is a powerful statement of confidence in Britain's economy. The IMF has doubled its forecast for UK growth this year and further raised its predictions for 2014.
Crucially, since July, the UK forecast has improved above all other G7 countries as our industries forge ahead in global markets.
– Nick Clegg, Deputy Prime Minister
This Government has set Britain on the right course by repairing the country's finances and helping to create over a million jobs.
We must continue to work hard to build a stronger economy and do it fairly - with investment in jobs and measures such as the increased personal tax allowance putting more money in the pockets of hard-working people.
Shadow chancellor Ed Balls said that despite the upgrade the poor figures still represented the slowest recovery for 100 years and called on the Government to take action to boost growth.
– Ed Balls, Shadow Chancellor
Despite these welcome changes to its forecasts, the IMF rightly warns that the UK economy will remain below potential for many years. That's why the IMF has repeated its view that the Government should bring forward infrastructure investment now, which could be used to build thousands of affordable homes.
Instead of more complacency from George Osborne, we need action to secure a strong and sustained recovery, catch up all the lost ground and tackle the cost of living crisis.
The Treasury said the upgrade in the UK's growth forecast , which is the biggest for any of the G7 nations - showed the Government's economic strategy was working.
"The IMF has confirmed that the UK economy is turning a corner, by revising up its forecast for growth over the next two years by more than for any other G7 economy," a spokesman said.
"But risks to the global economy remain high, and the recovery cannot be taken for granted.
"That is why the Government will not let up in implementing its economic plan, which has already cut the deficit by a third, kept interest rates near record lows and created over a million-and-a-quarter jobs."
The IMF said that with interest rates remaining low, the Government could afford to do more to boost growth through long-term investment projects while sticking to its plan for tackling the deficit:
In an environment of still low interest rates and under-utilisation of resources, public investment can also be brought forward to offset the drag from planned near-term fiscal tightening, while staying within the medium-term fiscal framework.
The International Monetary Fund (IMF) has upgraded its forecast for Britain's economy, amid "welcome signs" that the pace of economic activity is finally beginning to pick up after the global crash.
But in its latest World Economic Outlook, the IMF said that it would still take years before Britain's economy sees a full recovery.
It suggested the Government should now bring forward public investment projects to offset the squeeze on near-term Whitehall spending.
The International Monetary Fund has upgraded its forecast for Britain's economy.
The world financial watchdog said it now expected the UK to see growth of 1.4 per cent this year rising to 1.9 per cent in 2014, compared to its last forecast in July of 0.9 per cent growth in 2013 and 1.5 per cent next year.
However, the IMF did warn that it would take years before Britain's economy recovered completely from the financial crash in 2008.
Former IMF head Dominique Strauss-Kahn is to be tried on pimping charges, prosecutors have confirmed.
He is charged with "aggravated pimping", which under French law, is a broad crime that can encompass aiding or encouraging the act of prostitution.
Strauss-Kahn was charged with the more serious form because it allegedly involved more than one prostitute.
The crime carries a maximum term of 10 years in prison and a fine of 1.5 million euros ($2 million).
It completes an inquiry into sex parties attended by a man whose French presidential hopes were dashed by a separate 2011 U.S. sex scandal.
Doubts remain about the strength of the recovery, with fears over risks posed by the turbulent eurozone and the consumer-led nature of the economy's progress as the latest GDP figures will be released later today.
Officials at the International Monetary Fund (IMF) have added to the ambivalence, raising their forecast for annual growth from 0.6% to 0.9%, but later issuing a gloomy analysis of the UK's prospects.
In a recent report, the IMF said the recovery remained "slow and fragile" with output expected to remain well below par for an extended period, and some of its economists suggesting the sluggish pace of growth could undermine the coalition's deficit-slashing policies.
Meanwhile, the Bank of England's first significant intervention under new governor Mark Carney saw policymakers apparently taking a less rosy view of the outlook than some in the City.
There were more signs that Britain's economy may be on the road to recovery.
The International Monetary Fund has revised its growth forcecast for the UK this year to 0.9% - that's up by 0.3%.
But behind the figures, there is concern that growth is being built on hollow foundations.