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IMF: G20 should prepare for 'Brexit' impact www3.nhk.or.jp
The International Monetary Fund has asked Group of 20 finance officials to prepare for possible problems in negotiations on Britain's exit from the European Union.
The IMF's recommendation came in a report it published on global economic issues on Thursday.
G20 finance ministers and central bank governors are to hold a meeting in Chengdu, China, on Saturday and Sunday. The finance officials are expected to discuss ways to cope with uncertainties in financial markets and the world economy.
Britain's decision to leave the EU sparked turmoil and uncertainty in markets at one time. The Japanese yen surged against the dollar to its highest level in more than 2-and-a-half years as investors seeking a safe haven bought the currency.
The IMF report says reducing uncertainty surrounding Britain's exit from the European Union would help limit an adverse impact. It says a smooth and predictable transition to a new relationship between the UK and the EU that as much as possible preserves the gains from trade is essential.
The report says that while uncertainty about the outcome of negotiations remains, policymakers should stand ready to act decisively should financial market turbulence threaten the global outlook.
Observers say the focal point in the meeting is how much the G20 financial officials will be able to cooperate to reduce the impact of "Brexit".
Published Date:2016-07-22
