imf countries must avoid protectionism at all costs
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

IMF: Countries must avoid protectionism 'at all costs'

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleIMF: Countries must avoid protectionism 'at all costs'

International Monetary Fund
Washington - AFP

The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures "at all costs" due to the damage it would cause to their own and the global economy.

At a time when President Donald Trump has repeatedly blamed trade for US economic woes, and threatened to impose barriers to imports, the IMF said such policies would not work.

In its sixth edition of an annual report analyzing imbalances in the global economy, the Washington-based fund said while total trade and investment imbalances have narrowed since the crisis, there has been an increased buildup of excess surpluses and deficits in advanced economies.

About a third of the total are considered undesirably large imbalances, and countries should put in place policies to reduce these, whether they are surpluses or deficits, the External Sector Report urged.

But it is the deficit countries most at risk of a "backlash" that could lead to anti-trade policies, IMF research chief Luis Cubeddu told reporters.

"A key point of the report is that protectionist policies should be avoided at all costs," he said.

Such policies are "unlikely to meaningfully address external imbalances and they would be extremely harmful for domestic growth and global growth," Cubeddu added.

Even if there is a short-term impact on a country's trade deficit when a barrier is erected to imports, IMF research shows "global GDP losses increase with the duration of protectionist policies, while the impact on global imbalances lessens" and currencies adjust to compensate.

The IMF in recent weeks has issued annual reports scrutinizing key economies including the United States and Germany, in which it recommended increased focus on reducing the imbalances.

And while the Trump administration has accused Germany of taking unfair advantage of a relatively weaker euro currency value to boost its exports, Cubeddu said the IMF is "looking for actions from both sides, not just countries with surpluses."

In Germany's case, that means policies to boost domestic consumption, and for the United States reducing the government deficit and increasing productivity through things like education and infrastructure investment.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf countries must avoid protectionism at all costs imf countries must avoid protectionism at all costs

 



Themuslimchronicle, themuslimchronicle

GMT 17:35 2017 Wednesday ,27 December

Egyptian MP underlines Egypt’s ability

GMT 15:43 2011 Sunday ,15 May

US bid to save Louisiana cities

GMT 12:06 2012 Friday ,04 May

Is there a solution for Sudan?

GMT 07:43 2014 Tuesday ,12 August

Where is Assad on Gaza

GMT 07:44 2017 Tuesday ,07 February

Holding local elections requires dialogue

GMT 10:23 2016 Saturday ,16 January

Jazz parades and glittery parties

GMT 14:45 2017 Thursday ,07 September

NATO on guard ahead of major Russian war games

GMT 23:59 2011 Wednesday ,09 March

Exxon Scores Key Victory In Alaska

GMT 12:13 2011 Friday ,16 December

Beckham Style Icon for Over 50

GMT 13:53 2011 Tuesday ,28 June

De Gea confirms Manchester United offer

GMT 23:07 2012 Tuesday ,31 January

The Kardashian Sisters Topless

GMT 08:21 2011 Wednesday ,28 December

Modern rocking chair

GMT 00:52 2011 Friday ,25 November

Graffiti as art in order-conscious Singapore

GMT 04:01 2015 Tuesday ,17 February

Qatar national library to host event for children

GMT 10:18 2012 Sunday ,08 January

Mental illness 'rampant' in Somalia

GMT 07:17 2015 Monday ,02 March

Tintin set to go at Paris auctions

GMT 14:27 2017 Monday ,06 February

NATO starts anti-Daesh bomb training in Iraq

GMT 09:06 2016 Wednesday ,26 October

Canada parliament votes to take in Yazidi refugees

GMT 20:28 2017 Monday ,19 June

Deadly wildfires around the world

GMT 04:31 2017 Thursday ,16 February

Tunisian designers look to past for inspiration
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle