ECONOMY

World finance officials pledge more resources to aid growth

International Monetary Fund (IMF) Managing Director Christine Lagarde. (Photo: AP /Jose Luis Magana)

World finance leaders say they’ll use more resources to try to bolster economic growth. That commitment comes amid slow growth and a rising backlash against globalization.

The policy committee for the 189-nation International Monetary Fund says the world has “benefited tremendously from globalization” but that protectionism is threatening gains.

Dominating the IMF’s annual meeting in Washington were discussions about how to deal with increasing anger over globalization.

That’s seen in the US presidential campaign of Republican Donald Trump. He says millions of Americans have lost jobs or seen wages stagnate because of unfair trade practices of countries such as China and Mexico.
 

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Last Update: Saturday, 8 October 2016 KSA 22:06 - GMT 19:06
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World finance officials pledge more resources to aid growth
World finance leaders say they’ll use more resources to try to bolster economic growth
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