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Trade war could hit growth, hurt 'innocent bystanders', warns IMF's Lagarde

Lagarde urged countries to 'de-escalate' trade frictions and fix global trading rules, rather than abandon them

Reuters  |  Nusa Dua, Indonesia 

International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries of the perils of a trade or a currency war, saying they could be detrimental to global growth and hurt "innocent bystanders." Lagarde urged countries to "de-escalate" trade frictions and fix global trading rules, rather than abandon them. "We certainly hope we don't move in either direction of a trade war or a currency war. It will be detrimental on both accounts for all participants, Lagarde told a news conference during the annual meetings of the IMF and ...

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First Published: Thu, October 11 2018. 09:49 IST
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