IMF: Brexit Hit to UK Economy Can Range From 'Pretty Bad to Very, Very Bad'

The International Monetary Fund (IMF) does not predict that anything positive will arise from the United Kingdom potentially leaving the European Union through a so-called Brexit, IMF Managing Director Christine Lagarde said Friday.

MOSCOW (Sputnik) — Speaking before journalists at the UK Treasury, Lagarde said IMF had looked at a wide range of opinions and worked out several scenarios for a Brexit.

"And frankly in the very vast majority of what we’ve seen we haven’t seen anything that is positive. It’s always been on the negative side. Consequences will vary," Lagarde said, adding that the impact on the British economy could range from "pretty bad to very, very bad."

On June 23, the United Kingdom will vote on whether to remain part of the European Union. Supporters of UK exit from the bloc argue that EU membership has eroded Britain’s independence to legislate, direct its economy and control its borders. Opponents warn that leaving the European Union could deeply harm the country’s economy.

Earlier this month, IMF European Department Deputy Director Mahmood Pradhan said that a UK exit from the European Union had been identified as a risk factor for the EU economy and would disrupt trade and financial services.