Brexit delay avoids terrible outcomes, says IMF’s Lagarde

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Brexit delay avoids terrible outcomes, says IMF’s Lagarde

On Thursday, the 11th of April 2019, Managing Director of International Monetary Fund, an international organization aimed at fostering financial growth and economic stability, Christine Lagarde said that a six-month delay of Brexit had averted multiple terrible outcomes, which could have mounted further pressure on a sluggish global economy.

Besides, at a news conference at the World Bank and IMF spring meetings in Washington, Lagarde had also been quoted saying that such kind of Brexit arrangement could prolong uncertainty and might not resolve the serpentine inflections between EU and UK.

Lagarde’s comment came forth after a late-night meeting between the European leaders at an emergency EU summit had agreed to offer more six months to UK PM Theresa May to pass her Brexit bill in the divided UK House of commons.

Nevertheless, EU leaders would again meet on June this year to assess the progress of Brexit and if PM May could settle the differences over her parliament, Britain could secure a divorce from EU during the summit, three months earlier than the given deadline.

Addressing to an aversion of a no-deal catastrophe, Lagarde said, “At least the UK is not leaving on April 12 without a deal. It gives time for continued discussions between the various parties involved in the UK. It probably gives time for economic agents to better prepare for all options, particularly industrialists and workers, in order to try to secure their future A no-deal Brexit would have been a terrible outcome”.