EU Economics

IMF ‘clowns’ forced to admit Britain’s economy is GROWING despite predicting Brexit doom

BUNGLING International Monetary Fund officials have claimed Britain’s economy will grow faster than Germany’s and France’s just weeks after warning Brexit would have a “severe” impact on the economy.

Christine Lagarde

GETTY     The IMF has been branded ‘clowns’ after predict the UK’s economy would fail in the case of Brexit

Officials are facing a humiliating climbdown after claiming Britain would face a recession if the country opted to leave the European Union.But now the IMF expects the British economy to grow by 1.7 per cent this year and 1.3 per cent in 2017.

The forecast puts the UK’s economy as the second-fastest growing economy in 2016 among the G7 industrialised nations, second only to the US.The embarrassing backtrack by the financial watchdog comes after a string of anti-Brexit stories prior to the historic referendum last month.

Ukip MP Douglas Carswell said: “The IMF has serious credibility problems. It has been seriously wrong for years.“I hope that one of the things that the new Government does is push to have some credible people running this institution rather than the clowns currently running it.”

Christine Lagarde

GETTY     IMF managing director Christine Lagarde was mocked for her predictions

IMF managing director Christine Lagarde, said Brexit would be “very very bad” for Britain but latest forecasts now suggest otherwise.Mrs Lagarde was forced to backtrack in 2013 after the IMF predicted the UK was “playing with fire” for implementing austerity measures, only to see the UK economy shoot up as a result of the measures.

She later admitted the IMF “got it wrong” over its forecast.


BBC    Ukip Douglas Carswell said the IMF had lost its credibility

Ousted director general of the British Chamber of Commerce John Longworth, who backed Brexit, said: “Talk of Armageddon seems to be receding.“This is not surprising. If the Government adopts the right policies, we will be in a position where all the doom and gloom that was predicted simply disappears.”

A Treasury spokesman said: “Our country remains open for business. We are the same outward-looking, globally-minded, big-thinking country we have always been.”

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My personal opinion is that many people, who did not do their own research, were taken in by the doom mongering by people like Lagarde. However, before believing anything so called experts have to say on a topic … I like to look back at some of their previous “certainties” … no need to add more, I don’t think! Once again excellent piece from theunituk, thank you!

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