The IMF noted that "fundamental questions", particularly on the Irish Border, remain to be answered in order to secure a smooth Brexit. A no - deal deal 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 's latest report said the UK will need to " safeguard macroeconomic and financial stability " in the event of a no - deal Brexit , while the Bank of England would need to take steps to maintain liquidity within the financial system .
A no - deal deal 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 's latest report said the UK will need to " safeguard macroeconomic and financial stability " in the event of a no - deal Brexit , while the Bank of England would need to take steps to maintain liquidity within the financial system .