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IMF chief Lagarde warns against steps to restrict international trade

Lagarde says 'opening barriers' is always a welcome step

Press Trust of India  |  Davos 

Christine Lagarde
Christine Lagarde (Photo: https://twitter.com/Lagarde)

IMF chief cautioned against any measure that may stifle trade, saying any such step would undermine the recovery in global economic growth. Speaking at a session on remaking of global finance here at the (WEF), Lagarde said, “We are certainly seeing two clear engines of growth.

One is investment which is growing pretty well and the other is trade that is growing even faster than the global economic growth.” She said there is a need to fire on all cylinders for sustained growth and trade is a very important part of that and any measure that seeks to restrict trade will hurt growth in a big way. Asked whether she was being diplomatic by not directly mentioning the steps underway in the US, Lagarde said, “Who will agree with measures that impacts trade adversely? Opening barriers under a rules-based system is what is always a welcome step.” said the foremost economic agenda of has been to ensure sustained economic growth and one can see the positive reaction from the stock markets. “Our objective is to ensure wage growth and that is a big focus of what we are doing,” he said. Besides, the US is getting a great response from companies and everyone knows the country is open for doing business and we could not be more pleased with this, he added.

First Published: Fri, January 26 2018. 00:12 IST
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