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Need to prepare for uncertainties caused by possible Brexit: IMF

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Politicians need to be prepared for uncertainties and volatilities that could be caused by a British exit of the European Union, a senior IMF official said on Monday.

[BERLIN] Politicians need to be prepared for uncertainties and volatilities that could be caused by a British exit of the European Union, a senior IMF official said on Monday.

"We don't know what the new set of arrangements will be (in case of a Brexit)," Enrica Detragiache, assistant director of the IMF's European department, told a news conference in Berlin, adding that IMF colleagues were currently in Britain to assess the economic consequences of such a Brexit.

"What we can probably say is that there will be some uncertainty if a Brexit will take place and that will need to be managed," Mr Detragiache said, adding that Germany was an important trading and investment partner for Britain.

IMF senior official Michaela Erbenova added it was important that politicians were prepared for the case that a British decision to leave the EU could temporarily lead to uncertainties and volatilities on financial markets.

REUTERS