While new trade agreements made possible by EU withdrawal "could eventually pare some of these losses for the UK", any such deals are "unlikely to bring sufficient benefits to offset the costs imposed by leaving the EU", the international economic think-tank said. A no-deal Brexit will result in "dire consequences" for the UK, including reduced growth, an increased budget deficit and a depreciation of the pound, according to Christine Lagarde, the managing director of the International Monetary Fund (IMF). The IMF said that if Britain left without any deal, it would be "a very serious blow not only to our economy but also to confidence around the world."
A no-deal Brexit will result in "dire consequences" for the UK, including reduced growth, an increased budget deficit and a depreciation of the pound, according to Christine Lagarde, the managing director of the International Monetary Fund (IMF). The IMF said that if Britain left without any deal, it would be "a very serious blow not only to our economy but also to confidence around the world."