10:33 | 11/07/2016 Global Economy
The International Monetary Fund (IMF) Managing Director Christine Lagarde said Thursday that Britain's vote to quit the EU (Brexit) has injected significant uncertainty into the global economy, but is unlikely to cause a world recession.
IMF Managing Director Christine Lagarde - (Photo: EPA/VNA)
Speaking at IMF Headquarters at the beginning of her second five-year term, she called Brexit a major risk for the world, but said it will mainly impact the UK, with some spillover into the euro area.
Ms. Lagarde said the effects will be more severe if UK and EU policymakers can’t quickly create a framework and timeline for Brexit. She said the sooner they can create a timeline and terms for thedeparture, the better for all, and said Brexit could be a catalyst for the EU’s economic integration./.