Brexit extension avoids ‘terrible outcome’ – IMF chief Lagarde

The delay of Britain’s separation from the EU avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure the global economy, International Monetary Fund Managing Director Christine Lagarde said on Thursday. However, Lagarde told reporters in Washington that the arrangement will prolong uncertainty and won’t resolve the issues between Britain and the EU. “At least the UK is not leaving on April 12 without a deal,” Reuters quoted Lagarde as saying. “It probably gives time for economic agents to better prepare for all options, particularly industrialists and workers, in order to try to secure their future.” Lagarde added that “a no-deal Brexit would have been a terrible outcome.”