Britain leaving the EU could have a "negative and substantial effect" on the UK's economic growth, the International Monetary Fund has said.
"A vote for exit would precipitate a protracted period of heightened uncertainty, leading to financial market volatility and a hit to output," the IMF said in a report published on Friday.
The head of the International Monetary Fund (IMF), Christine Lagarde, has said a vote for the UK to leave the European Union could push down sterling and lead to interest rates rising sharply.
Lagarde added that the organisation had concluded in its assessment that it has not seen anything positive in a possible Brexit from the EU.
She said "depending on what hypotheticals you take, it's going to be pretty bad to very, very bad".
But she also stressed that even if Britain was to remain in the EU "there are still vulnerabilities that continue to be need to be addressed".
Earlier, the IMF said Britain risks falling into a self-reinforcing cycle of weaker economic growth and lower house and share prices if voters opt to leave the EU in a June 23 referendum.
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