G-20 Urges Reversing Protectionist Policies

German Finance Minister Wolfgang Schaeuble.

Washington, 26 Rajab 1438/23 April 2017 (MINA) — Finance ministers of the G-20 reached “a broad consensus” that the global economy must be made “more inclusive” in order to promote growth.

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“The general mood of the discussion was a broad agreement in the direction that free trade is better for global growth,” KUNA quoted as saying German Finance Minister Wolfgang Schaeuble on Friday following the group’s meeting amid the International Monetary Fund (IMF) Spring Meetings.

“We need to tackle this, otherwise we will see more protectionism.

Protectionism would be damaging to the global economy and the concerned economies as well,” he stressed.

Despite arguing against protectionist policies, such as those advocated by US President Donald Trump, the IMF said that it can cooperate with the Trump administration to improve global trade. (T/RS5/RS1)

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Mi’raj Islamic News Agency (MINA)