With the financial and stock markets in turmoil steady hands are needed on the levers of international finance and the International Monetary Fund’s director Christine Lagarde was quick to reassure the world that the IMF stood ready to act if needed in the wake of the Brexit.
“The British people have spoken and their decision has to be respected. It will be sometime until we know the nature of the future relationship between the UK and the EU. In the meantime it will be important that there will clarity on the negotiation process and that it be carried as in 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 and to guard against excess volatility and to provide what is necessary. The IMF for its part will continue to monitor development closely. We will work with our members to ensure the resilience of the global economy in the period ahead,” she said.