The International Monetary Fund announced it has cut its forecasts for global economic growth for this year and next on the back of the UK’s vote to leave the European Union and the resulting uncertainty, according to a statement from the IMF on Tuesday notifying of an update to their World Economic Outlook, (pdf in English or Arabic). Projections for world output for 2016 and 2017 have each been revised downward by 0.1 percentage point. “The Brexit vote implies a substantial increase in economic, political and institutional uncertainty, which is projected to have negative macroeconomic consequences, especially in advanced European economies,” according to the statement and updated WEO. There was no change in projections for Emerging Market and Developing Economies, and projections for the Middle East, North Africa, Afghanistan and Pakistan were actually revised upwards by 0.3 percentage points for 2016 but down by 0.2 percentage points for 2017. Depending on your reading preference, the Financial Times, Reuters and the Guardian all have coverage this morning.