IMF warns of uncertainty if Scotland votes 'yes'
The International Monetary Fund (IMF) has warned that a vote in favour of independence in Scotland would spook the financial markets.
Success for the Yes campaign would be likely to create “uncertainty” in the short term as politicians thrashed out “complicated” issues, particularly over what currency Scotland would use, it warned.
The referendum takes place next Thursday, September 18.
Longer-term, the impact on the economy would be determined by the detailed results of the negotiations carried out in the wake of the vote, the organisation added.
Asked at a regular press briefing if a vote in favour of breaking up the union would deal a huge blow to the British economy, IMF deputy spokesman William Murray said: “I do want to make the point that there is a political process under way and I really don’t want to comment on the political process itself. It wouldn’t be appropriate. Let me make this point.”
He added: “A Yes vote would raise a number of important and complicated issues that would have to be negotiated. The main immediate effect is likely to be uncertainty over the transition to potentially new and different monetary, financial, and fiscal frameworks in Scotland.
“While this uncertainty could lead to negative market reactions in the short-term, longer-term effects would depend on the decisions being made during the transition. And I would not want to speculate on this.”
