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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