Brexit main source of global economic uncertainty, says IMF

Fund urges EU and UK to work together for smooth transition

IMF spokesperson Gerry Rice called on EU leaders to take decisive measures amid the current volatile climate, during a press briefing.
‘We see the near-term risk for the U.K. and the EU and the global economy arising mainly from the macroeconomic and financial market impact, of a sizeable increase in uncertainty, including on the political front.’, he pointed out.
Rice went to say that the terms of the future relationship between the UK and the EU was a notable source of uncertainty in the global economy, adding that the IMF had urged both the EU and the UK to work together towards a smooth and predictable transition after the Brexit.
‘More broadly, we think policymakers need to stand ready to act, should the impact of financial market turbulence and higher uncertainty, threaten to materially weaken the global outlook. Decisive policies will make a difference.’, Rice underlined.

‘Again, I would say 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’, Rice stressed.