All “likely” Brexit outcomes will entail a financial hit for the U.K. economy, the International Monetary Fund (IMF) warned on Monday.
But, it said, a disorderly “no-deal” scenario — where Britain leaves the European Union without any kind of trading relationship in place — would be much worse.
“While all likely Brexit outcomes will entail costs for the U.K. economy by departing from the frictionless single market that now prevails, an agreement that minimizes the introduction of new tariff and non-tariff barriers would best protect growth and incomes in the U.K. and EU,” the IMF said in its latest report on the outlook and risks to the world economy, published Monday.
