• Friday, August 12, 2022

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British Economy Will Shrink Without Brexit Deal: IMF

British Economy Will Shrink Without Brexit Deal: IMF Managing Director Christine Lagarde (Photo Credit: John Stillwell/Pool via REUTERS).

By: Radhakrishna N S

If Britain moves out of European Union (EU) without a Brexit deal then its economy will witness a decline in 2019 and any agreement will leave Britain financially worse than remaining in the EU, International Monetary Fund (IMF), said on Monday (17). The IMF said it expected Britain’s economy would grow by about 1.5 per cent a year in 2018 and 2019 if a broad Brexit agreement was struck, compared with about 1.75 per cent if it had stayed in. Failure to get a deal would leave to a contraction, IMF Managing Director Christine Lagarde said. “A more disruptive departure will have…

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