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IMF chief Christine Lagarde, commenting on the preliminary findings of IMF staff’s assessment on Brexit, said that a no deal Brexit is the most significant risk to the UK economy.

Key quotes:

   “¢   IMF projections assume a timely deal, smooth Brexit.
   “¢   But a more disruptive departure will have a much worse outcome.
   “¢   Should not understate progress made in Brexit talks.
   “¢   But there are many critical issues still left unresolved.
   “¢   The range of issues at hand and lack of time for a Brexit deal are daunting.
   “¢   Sterling’s depreciation since Brexit vote has hurt real income growth.
   “¢   UK exports have not picked up enough to stop overall slower growth.
   “¢   The UK has structural challenges beyond Brexit.

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