IMF weighs in with Scotland Yes vote concerns

The IMF has warned of market ructions should Scotland vote for independence due to the complex and uncertain monetary and fiscal unravelling of the partnership.

The Washington-based fund says it does not want to comment on the political process underway, but it believes a yes vote would cause uncertainty for the UK market.

IMF spokesman William Murray says there are many “important and complicated” arrangements that have to be agreed between Edinburgh and Westminster.

“The main immediate effect is likely to be uncertainty over the transition to potentially new and different monetary, financial and fiscal frameworks in Scotland,” he says.

“While this uncertainty could lead to negative market reactions in the short term, the longer term will depend on the decisions being made during the transition, and I do not want to speculate on this.”

A new YouGov poll shows waxing support for the union with 52 per cent voting for the status quo. Earlier this week, a different poll found the secessionists had taken the first lead of the year, with 51 per cent support.