IMF chief Christine Lagarde has today called on Britain and Europe to work together to ensure that Britain's pullout from the European Union will take place smoothly.
"We urge the authorities in the UK and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the UK and the EU, including by clarifying the procedures and broad objectives that will guide the process," Christine Lagarde said.
In a statement after Britain's shock vote to leave the EU, the IMF managing director also strongly endorsed the commitments of the Bank of England and the European Central Bank to make sure the banking system has enough liquidity and to tamp down market volatility.
"We will continue to monitor developments closely and stand ready to support our members as needed," Lagarde said.
Meanwhile, the Group of Seven finance leaders vowed today to continue to consult closely on market moves and financial stability and co-operate as appropriate, after Britain voted to exit the European Union.
G7 finance chiefs said in a statement they were monitoring market developments while recognising that excess volatility and disorderly moves in exchange rates can harm economic and financial stability.
"We respect the intention expressed today by the people of the United Kingdom to exit from the European Union," G7finance leaders said after a conference call held hours after the British referendum.
They also said they affirmed that the British economy and financial sector remained resilient, and were confident British authorities were well positioned to address the consequences of the referendum.
G7 central banks have taken steps to ensure adequate liquidity and to support market functioning, and they stand ready to use the liquidity instruments to this end, they added.
