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World Bank president expresses concern over Brexit

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New Delhi — The World Bank president said Thursday that India had shown resilience in the situation created by Britain's decision to exit from the European Union, but it will be affected "if there were more events creating more uncertainty."

Jim Yong Kim told reporters that the British decision has caused a shortage of capital for developing nations like India and money was flowing into safe havens like gold and US treasury bills.

Urging countries to embrace multilateralism and multilateral institutions, he said he was a very strong believer in multilateralism, and the European Union was one of the greatest examples of an attempt to achieve that.

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