Turning Back from Brexit Deal can be Injurious for Britain: IMF

An exit by Britain from the European Union without a framework agreement to preserve some economic integration is the biggest near-term risk to the British economy, an International Monetary Fund spokesman said.

IMF spokesman Gerry Rice told media that all Brexit outcomes will entail costs, because they will raise impediments to the current "frictionless" single market with the EU.

"Leaving without a withdrawal agreement and a framework for the future relationship with the EU is the most significant near-term risk to the UK economy," Rice said.