IMF: EU exit could cause severe damage

Author (Corporate)
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Series Details 12.04.16
Publication Date 12/04/2016
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The International Monetary Fund issued the Spring 2016 World Economic Outlook on the 12 April 2016.

In it they said that the baseline projection for global growth in 2016 was a modest 3.2%, broadly in line with 2015, and a 0.2% downward revision relative to the January 2016 World Economic Outlook Update. The recovery was projected to strengthen in 2017 and beyond, driven primarily by emerging market and developing economies, as conditions in stressed economies start gradually to normalise. But uncertainty had increased, and risks of weaker growth scenarios were becoming more tangible. The fragile conjuncture increased the urgency of a broad-based policy response to raise growth and manage vulnerabilities.

One of the risk highlighted was the United Kingdom leaving the European Union. The UK's exit from the European Union could cause 'severe regional and global damage'.

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Related Links
IMF: News, 12.04.16: Transcript of the Press Conference on the Release of the April 2016 World Economic Outlook
ESO: Background information: IMF warns of uncertainty around Brexit vote
EurActiv, 12.04.16: Worried IMF cuts world growth forecast, warns over Brexit
IMF: World Economic Outlook, April 2016
EUObserver, 13.04.16: IMF: Brexit would cause severe damage
The Guardian, 14.04.16: IMF chief issues impassioned plea for Britain to stay in EU

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