Economy 23 May 2012 Lagarde 'shivers' contradicted by IMF's own forecasts How cold was the room for the IMF's press conference? Sign up for our weekly email * Print HTML How cold was the room for the IMF's press conference yesterday? The Funds' World Economic Outlook publishes forecasts of government budget deficits five years into the future, rather like our own Office of Budget Responsibility. The IMF's current forecast was published last month, and they are forecasting that George Osborne will borrow 5.0 per cent GDP at the end of 2014. I ask the about room temperature because the IMF also provided a forecast, in April 2010, of Alistair Darling's deficit cutting plans. They predicted that the UK would have a budget deficit of 5.2 per cent. So it's surprising Lagarde said today that "When I look back to 2010 and what could have happened without fiscal consolidation I shiver". Not very confidence inspiring that 0.2 per cent makes the head of the IMF shiver is it? › Web Only: the best of the blogs Christine Lagarde and George Osborne. Photograph: Getty Images Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter. Subscribe from just £1 per issue More Related articles Brexit will lead to unfair deportations of EU citizens, academic warns Former Ukip media chief warns on party breakdown: "The wounds will never heal" Budget 2017: What announcements will Philip Hammond make?