Failure to agree on Brexit would bring costs to UK, says IMF

Failure to agree on Brexit would bring costs to UK, says IMF

Investors are concerned, but British and European officials believe deal could be out in six or eight weeks

Authorities trust agreementREUTERS / Hannah McKay / File Photo - 10/9/2018A confused and abrupt exit from the European Union would cause serious problems for the UK economy, the International Monetary Fund (IMF) warned in a report on Monday.In its regular assessment of the economy of the country, the Fund says it expects the UK to grow by about 1.5% this year and next, as long as London and Brussels reach the terms of the EU's exit agreement from the EU. for March 2019.The IMF says a transitional period is essential to avoid problems in this process between the exit and the start of a new economic relationship with the bloc."The large scope of work that remains and the limited time before leaving the UK from the EU may lead to incomplete preparations on the day of departure, even in the face of the most determined efforts," he warns.Read also: Labor will vote against any May deal for BrexitThe Fund warns that leaving the bloc without agreement on withdrawal and transition ...


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