IMF head urges 'smooth transition' of Brexit

ANKARA (AA) - The head of the International Monetary Fund (IMF) Friday urged British and European leaders to work towards a smooth transition in implementing the U.K.'s vote to leave the European Union.

In a statement issued after the Brexit referendum, Christine Lagarde said her organization had taken note of the decision by the British public.

"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," she said.

“We strongly support commitments of the Bank of England and the ECB [European Central Bank] to supply liquidity to the banking system and curtail excess financial volatility," Lagarde said. "We will continue to monitor developments closely and stand ready to support our members as needed," she added.

Last week, Lagarde urged Britain to vote to remain in the bloc.

Britain on Thursday voted to end its 43-year association with the European Union in an historic referendum result which will have global implications.

In a narrow outcome, 51.9 percent of voters chose to leave the EU while 48.1 percent opted to stay in.

The results saw global stock markets fall and sent the pound sterling plummeting against the U.S. dollar in overnight trading. By Friday morning, the British currency was worth $1.37, down from more than $1.50 just five hours earlier.