IMF Director calls for Cooperation in Time of trade Disputes. The world must cooperate as much as possible instead of inciting trade disputes; a lot can be accomplished with cooperation and good international rules.
That stated the boss of the International Monetary Fund (IMF), Christine Lagarde, at an economic summit conference on the Indonesian island of Bali.
The meeting in Bali was overshadowed by the protectionism of the American president Donald Trump,
in addition to the natural intensity in Indonesia.
They are going to attack the import of certain products with all kinds of taxes and thereby stir up trade disputes.
According to the IMF top woman in poorer countries and emerging economies,
these lead to the fear that they are the first victims of a new crisis.
Lagarde, unexpectedly, avoided mentioning Trump explicitly in her speech.
In addition to the trade pressures, the Italian sovereign debt was central to the Nusa Dua meeting and in Lagarde’s speech,
at the end of the autumn meeting of IMF and the World Bank.
“Political uncertainties, historically unprecedented high (state) debt,
increasing financial vulnerability and secured tax gaps can further weaken confidence in the outlook for economic growth,” Lagarde warned.