Brexit Threatens to Cause ‘Severe Global Damage’, Warns IMF

by Szu Ping Chan

A British exit from the EU risks causing “severe global damage” that would drag down UK growth for years to come, the International Monetary Fund has warned.

The stark message came as the IMF slashed its global growth forecasts and said the risk that the world could slip into a permanent cycle of low growth, low inflation and low interest rates was rising.

The Fund said a vote to leave the EU posed one of the biggest risks to the global recovery as Maurice Obstfeld, its chief economist, described Brexit as a “real possibility”.

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