WASHINGTON, D.C.: The International Monetary Fund (IMF) said on Tuesday (Wednesday in Manila) that the global economy faces wide-ranging threats from weak growth and rising protectionism, warning of possible “severe” damage should Britain quit the European Union.

The Fund cut its global forecast for the third straight quarter, saying economic activity has been “too slow for too long,” and stressed the need for immediate action by the world’s economic powers to shore up growth.

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