Statement by Christine Lagarde on the U.K. Referendum
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today:
"We take note of the decision by the people of the United Kingdom. We urge the authorities in the U.K. and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the U.K. and the EU, including by clarifying the procedures and broad objectives that will guide the process.
"We strongly support commitments of the Bank of England and the ECB to supply liquidity to the banking system and curtail excess financial volatility. We will continue to monitor developments closely and stand ready to support our members as needed."
SOUNDBITE: (English) Christine Lagarde, Managing Director, IMF: “As I said in the statement earlier today, the British people have spoken and their decision is to be respected. There will be sometime until we know the nature of future relationship between the United Kingdom and the European Union. In the meantime, it will be important that there will be clarity on the negotiation process, and that it be carried in as a smooth manner as possible. I welcome the measures announced today by the Bank of England and the European Central Bank to support the banking system as needed to guard against excess volatility and provide what is necessary. The IMF for its part will continue to monitor developments closely and we will work with our members to make sure the resilience and stability of the global economy in the period ahead.”