Brexit: IMF warns of repercussions for global economy
July 01, 2016 12:31
Britain's decision to leave the European Union has created "significant uncertainty" that will have repercussions not only for the UK and Europe, but also for the global economy, the International Monetary Fund has warned.
IMF spokesperson Gerry Rice said the Brexit was likely to cause a dampening of growth in the near term, and urged policy makers to act decisively while dealing with the situation.
"Brexit has created significant uncertainty, and we believe this is likely to dampen growth in the near term, particularly in the UK, but with repercussions also for Europe and the global economy," he said yesterday. Rice said policy makers needed to stand ready to act, if the impact of financial market turbulence and higher uncertainty threaten to materially weaken the global outlook, adding that "decisive policies will make a difference."
IMF spokesperson Gerry Rice said the Brexit was likely to cause a dampening of growth in the near term, and urged policy makers to act decisively while dealing with the situation.
"Brexit has created significant uncertainty, and we believe this is likely to dampen growth in the near term, particularly in the UK, but with repercussions also for Europe and the global economy," he said yesterday. Rice said policy makers needed to stand ready to act, if the impact of financial market turbulence and higher uncertainty threaten to materially weaken the global outlook, adding that "decisive policies will make a difference."
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