IMF Revives Recession Warning for U.K. Economy Over Brexit Vote
- Says effects of leaving would be ‘negative and substantial’
- Brexit would likely mean lower output, higher inflation
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The International Monetary Fund weighed in once more with its thoughts on Britain’s referendum, warning the U.K. could slide into a recession if it quits the European Union.
In a 64-page document, the Washington-based fund said that the size of the hit would depend on a multitude of factors, though its overall assessment is that the U.K. “would likely be worse off economically in the long run.”