IMF: EU exit could cause severe damage

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'.

• Primary Source

IMF: News, 12.04.16: Transcript of the Press Conference on the Release of the April 2016 World Economic Outlook http://www.imf.org/external/np/tr/2016/tr041216.htm

ESO: Background information: IMF warns of uncertainty around Brexit vote http://www.europeansources.info/record/imf-warns-of-uncertainty-around-brexit-vote/

EurActiv, 12.04.16: Worried IMF cuts world growth forecast, warns over Brexit http://www.euractiv.com/section/uk-europe/news/worried-imf-cuts-world-growth-forecast-warns-over-brexit/

IMF: World Economic Outlook, April 2016 http://www.imf.org/external/pubs/ft/weo/2016/01/index.htm

EUObserver, 13.04.16: IMF: Brexit would cause severe damage https://euobserver.com/economic/133026

The Guardian, 14.04.16: IMF chief issues impassioned plea for Britain to stay in EU http://www.theguardian.com/business/2016/apr/14/imf-chief-issues-impassioned-plea-for-britain-to-stay-in-eu

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