Economy News

IMF urges G20 to give priority to resolving trade disputes

IMF Director Christine Lagarde has called on the Group of 20 major economies to give priority to resolving trade disputes to mitigate risks to global growth.

“We have met at a time when the global economy is showing signs of stability and growth is expected to be strengthened,” Lagarde said in a statement after a meeting of G20 finance ministers and central bank governors. “While this is good news, the road ahead is still fraught with difficulties and risks.”

“To mitigate these risks, she stressed that resolving current trade disputes should be a top priority, including eliminating existing fees and avoiding new fees,” she said, adding that work was also needed to modernize the international trading system.

“This will be the best way for policymakers to bring greater certainty and confidence to their economies and to help global growth,” said Lagarde, who took part in the meeting of G20 finance officials. Source