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13 May 2016

BBC: IMF says Brexit 'pretty bad to very, very bad'


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IMF's Christine Lagarde said she had "not seen anything that's positive" about Brexit and warned that it could "lead to a technical recession".


[...] The IMF said in a report on the UK economy that a leave vote could have a "negative and substantial effect". It has previously said that such an outcome could lead to "severe regional and global damage".

Ms Lagarde said the Fund had a duty to assess the risks of Brexit. It has a mandate to oversee the international monetary and financial system.

Brexit was not just a domestic issue but an international one as well, she told a briefing at the Treasury attended by the Chancellor, George Osborne. [...]

In its report, the IMF said that a Brexit vote would result in a "protracted period of heightened uncertainty" and could result in a sharp rise in interest rates.

That would cause volatility on financial markets and economic output to decline and could also erode London's status as a global financial centre, it added. [...]

Full report

Full article on BBC news



© BBC - British Broadcasting Corporation


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