World Bank Says Brexit Uncertainty May Hurt Global Economy
- Kim says decision to stay or leave is one for British voters
- Lower growth forecast makes world vulnerable to uncertainty
This article is for subscribers only.
World Bank President Jim Yong Kim cautioned that the global economy won’t cope well with uncertainty as polls show Britons remain undecided as to whether to remain in the European Union in June’s vote.
Asked about the potential impact of a vote to leave the bloc -- known as Brexit -- Kim said the decision is one for U.K. voters to take, though he noted that downgraded growth forecasts make the world economy more vulnerable. Kim said the World Bank has just downgraded its global growth forecast this year to 2.5 percent from 2.9 percent.