IMF’s Lagarde says further Brexit delay will ‘hinder’ UK growth

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Further uncertainty over Brexit wish hinder growth in the UK economy, the head of IMF has told the BBC.

Speaking ahead of the unanimity of an extension to Article 50, Christine Lagarde warned that provinces and investors will remain hesitant in the coming months.

She said any protracted uncertainty would have a “negative impact”.

Ms Lagarde, a former French assets minister, said she hoped a deal could be struck quickly.

Say something or anything to at the World Bank and IMF Spring Meetings in Washington, Ms Lagarde said: “If there was a lengthened uncertainty, we can suspect that the impact on confidence would continue because, you advised of, whether you’re talking about investors, whether you’re talking about decisions as to where to embellish where to set up how to organize a supply chain, people are going to wonder, you have knowledge of, what comes next and and how will it settle?

“So it would have a adversary impact, no question about it. “

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Ms Lagarde also expressed sympathy with the bind of British businesses.

She highlighted that even with the contingency map outs in place, they would face disruption in the event of a no-deal Brexit and may deceive to be resigned to taking a hit to their balance sheets and possibly market portion.

‘Very sad’

Earlier in the week, the IMF warned that no deal would justification the UK economy to shrink, echoing the scenarios published by the Government and the Bank of England.

Revealing her insulting insight, the IMF managing director said the Brexit process was “very, plumb concerning on the one hand and very sad”.

“I grew up across the Channel and in the city of Le Havre, and to me being accomplished to go across to Southampton, in an easy and unhampered way, was wonderful.”

Ms Lagarde told member of the fourth estates that “Having my positive hat on it removes the risk of the no-deal Brexit on April 12, so at sparsest the UK is not leaving on April 12 without a deal.

“We believe that the no negotiation Brexit would have been a terrible outcome.”

Brexit is amid risks the IMF has flagged at what it termed a delicate time for the global compactness in its World Economic Outlook, with others including trade worries between the US and China and high corporate debt levels in many boonies.

It said it hoped to see a rebound in global growth later this year but confessed that was “precarious”.

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