[IMF Urges UK Prime Minister-Designate Burnham to Avoid Fiscal Overreach, Citing Lingering Scars from Truss Crisis] According to Golden Finance, on July 16, the International Monetary Fund (IMF) warned UK Prime Minister-designate Andy Burnham that the 2022 Liz Truss budget crisis caused permanent scars, making the UK bond market more sensitive to the country's fiscal policies. The IMF stated that after former Prime Minister Truss's mini-budget nearly four years ago triggered market turmoil, the bond market underwent a 'structural shift.' At the time, Truss planned to increase spending and cut taxes, with funding sources for tens of billions of pounds unclear. The plan was ultimately withdrawn after facing strong opposition from investors.