UK, June 24, 2016 – The International Monetary Fund(IMF) has called on the authorities in the UK to work for smooth economic transition between it and the European Union(EU).
Managing Director of the bank, Ms. Christine Lagarde made the call as residents of UK voted for exit of the UK from the EU.
She also called for clarification of the procedures and broad objectives that will guide the process.
“We take note of the decision by the people of the United Kingdom. We urge the authorities in the U.K. and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the U.K. and the EU, including by clarifying the procedures and broad objectives that will guide the process”, the IMF chief said.
The bank noted that it remains in strong support of commitments of the Bank of England and the ECB to supply liquidity to the banking system and curtail excess financial volatility.
“We will continue to monitor developments closely and stand ready to support our members as needed,” she said.
