But an analysis by the Evening Standard may bring some comfort to Chancellor Jeremy Hunt as it suggests the IMF's track record on predicting the UK's post-Covid recovery is a long way from infallible.
For those looking for reasons to believe that the British economy will do better than the IMF's projection of a 0.6% fall, the IMF's forecasting record in 2021- the last full year with official GDP data may offer hope.
The IMF made four GDP projections in 2021: in January, April, July and October. The last three of these reports were all more pessimistic than the average - and ended up missing the actual outcome by a wider margin.
The four IMF projections were out by an average of 1.7 percentage points in 2021. This was worse than the average of a sample of 34 independent forecasters collected by the Treasury which missed by an average of 1.55 percentage points.
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