Brexit Delay Better than No-Deal Exit for Global Economy: IMF

IMF Managing Director Christine Lagarde has stated that the Brexit delay is better for the global economy than Britain having a no-deal exit from the EU. Addressing a press conference in Washington, Lagarde also commented that the agreement to delay Brexit is not enough of a move towards resolving issues between Britain and the EU.

EU leaders have agreed to extend the Brexit deadline by another six months, giving Britain this extra time to prepare for the departure properly. Ever since Brexit was announced three years ago, British economy and businesses have weathered quite a bit of uncertainty. According to BOE Governor Mark Carney, this has hurt investment and has even affected economic productivity significantly.

The IMF recently cut its global growth forecast for 2019 to 3.3%, and one of the economic risks that prompted this cut was the uncertainty surrounding Brexit. Things, however, are expected to get better next year, as the IMF projects that the global economy could grow by 3.6% in 2020.

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Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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