The news will come as a blow to the Chancellor George Osborne. However, IMF had some advice for the Chancellor - ease the pace of deficit reduction in the event of any further downturn in activity.
The IMF signalled that Mr Osborne should also look to lowering his growth forecast for 2012.
When making tax and spending judgments, the Chancellor is currently guided by economic forecasts from the independent Office for Budget Responsibility. However, they have in the past proved to be over-optimistic.
The IMF also said the Chancellor may need to slow down the pace of his deficit reduction plans, although he has so far resisted in doing so.
The UK was hailed by IMF as one of the three big developed economies at risk of a double-dip recession, with the IMF World Economic Outlook claiming the global economy was entering a “dangerous phase”.
"Although the recession has ended, many economies continue to operate far below pre-crisis trends. Output losses relative to trends are largest for economies that were at the epicentre of the crisis, such as the United States and the United Kingdom," said the IMF.
The fund predicts that global GDP will expand "at an anaemic pace of 1.5 percent in 2011". And it believes global growth will shrink to 4 percent in 2012 from 5 percent in 2010 on factors such as "major financial turbulence in the eurozone".
"Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing," the IMF said.
The IMF's World Economic Outlook pinpointed the Japanese tsunami and the rise in oil prices prompted by the unrest in north Africa and the Middle East as two shock events to hit the international economy in 2011.
"For more information, please contact Glazers, Chartered Accountants London or visit www.glazers.co.uk
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