Exiting EU is biggest threat to British economy: IMF

The International Monetary Fund (IMF) has reiterated its view that if British voters decide to leave the European Union (EU) in a June 23 referendum, it will be the biggest threat to the country’s economy.

London’s status as a global financial center could be eroded if the UK votes to leave the EU, the IMF, an international organization headquartered in Washington, DC, warned on Friday.

“Uncertainty over the outcome of the referendum on EU membership, and about the implications of a potential Leave vote, already appears to be having an impact on investment and hiring decisions, with recent surveys of economic activity falling to their weakest levels in three years,” the IMF said.

“A vote for exit would precipitate a protracted period of heightened uncertainty, leading to financial market volatility and a hit to output. Following a decision to exit, the UK would need to negotiate the terms of its withdrawal and a new relationship with the EU — unless…

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