| Updated:
IMF predicts more bad debts
The International Monetary Fund (IMF) predicts seven per cent of European consumer debt will turn bad. Much of that will be in the UK, the continent’s biggest nation of borrowers.
IMF estimates say that of US consumer debt totalling $1,914bn (£1,166bn), 14 per cent will turn bad. For Europe, it expects 7 per cent of the $2,467bn of consumer debt will be lost,