Christine Lagarde, International Monetary Fund managing director said on Thursday the delay of Britain’s separation from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure the global economy.
Lagarde told a news conference, however, that the arrangement will prolong uncertainty and won’t resolve the issues between Britain and the EU.
“At least 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,” Lagarde said. “A no-deal Brexit would have been a terrible outcome.”
Nigeria not opposed to joining OPEC output cuts, says oil minister
FG’s refund of oil marketers’ N800bn to improve liquidity in Nigerian banks
Technology, trade changes disrupt manufacturing-led development, World Bank warns
McDonald’s to scrap plastic straws in UK and Ireland in fight against plastic pollution
IMF forecasts 7.5% growth for India in 2019-20
U.S. inflation slows in September as weekly jobless claims increase
Asian stocks retreat as U.S. political tumult adds to growth worry
U.S. government reopens as clock starts on funding talks
Bank of England sees weakest UK outlook since 2009 on Brexit, global slowdown
German ambitions evaporate as Deutsche Bank merger talks with Commerzbank collapse