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The Managing Director of the International Monetary Fund, Christine Lagarde, while speaking at a public event in Vienna, reiterated that a Brexit remains the biggest threat to the UK economy, urging Britons to stay within the European Union.
EU’s membership has brought jobs and income gains to Britain and helped make the country a dynamic and vibrant economy, mentioned in her speech in Vienna on Friday. European integration has lifted trade and investment and raised productivity and incomes, she added.
"We have already been on record that the economic risks of leaving are firmly to the downside," Lagarde said.
The campaign for the June 23 UK referendum has been suspended for a second day on Friday, following shooting of labor lawmaker, Jo Cox, an advocate for 'Bremain'. Further, The IMF delayed by 24 hours the publication of a detailed report on the implications of Brexit.
She said that the forecasts by various economists on the negative impacts of withdrawing British membership from the European Union cannot be neglected, even if discounted for the wrong forecasts sometimes.
Acknowledging that refugee and migration issues play an important role in the Brexit debate, Lagarde urged British voters to take the immigrants issue in the positive spirit and acknoweldge the role they play in the economy and society, Bloomberg reported.
She went on to mention that the EU membership has made the UK a richer economy, besides, diversifying it. As in all countries, there are people who are struggling in this new environment, but for the majority of citizens, this has been a great success story.
