Britain is losing out amid Brexit uncertainty, says IMF’s Lagarde
London — Britain’s tepid growth can improve along with other economies should a positive trade deal over Brexit be agreed to with the EU, IMF chief Christine Lagarde said on Wednesday. "The more the UK economy will be open to trade in general, the EU included, the more likely that productivity will go up and growth will increase," Lagarde said in London after the IMF trimmed its UK growth forecast for 2017 and maintained its prediction for 2018. "Clearly ... the UK economy is losing out as a result of the decision" to exit the EU, said Lagarde, as she dismissed suggestions that the IMF was "too gloomy" in its outlook. In its report, the IMF trimmed its forecast for growth in 2017 in the British economy to 1.6%, from the forecast of a 1.7% expansion it made in October. The IMF, however, maintained its forecast 1.5% growth in GDP in 2018. "Developments with Brexit negotiations are a key uncertainty," said the IMF report. "Faster-than-expected progress towards a mutually beneficial eco...
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