January 17, 2019 / 3:56 PM / 6 months ago

IMF: No-deal Brexit is biggest risk to Britain's economy

FILE PHOTO: An anti-Brexit protester stands with an illuminated EU umbrella surrounded in flags outside the Houses of Parliament in London, Britain, January 14, 2019. REUTERS/Clodagh Kilcoyne

WASHINGTON (Reuters) - An exit by Britain from the European Union without a framework agreement to preserve some economic integration is the biggest near-term risk to the British economy, an International Monetary Fund spokesman said on Thursday.

IMF spokesman Gerry Rice told reporters that all Brexit outcomes will entail costs, because they will raise impediments to the current “frictionless” single market with the EU.

“Leaving without a withdrawal agreement and a framework for the future relationship with the EU is the most significant near-term risk to the UK economy,” Rice said.

Reporting by David Lawder

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