Lagarde asks for collaboration and clarification of Brexit

Christin Lagarde, Managing Director of the International Monetary Fund (IMF), issued a statement after the results of the referendum in the United Kingdom. She asked for collaboration between authorities for a smooth transition and asked for clarification of the procedures and objectives of the process.

Full Statement:

"We take note of the decision by the people of the United Kingdom. We urge the authorities in the U.K. and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the U.K. and the EU, including by clarifying the procedures and broad objectives that will guide the process.

"We strongly support commitments of the Bank of England and the ECB to supply liquidity to the banking system and curtail excess financial volatility. We will continue to monitor developments closely and stand ready to support our members as needed."