New IMF General Director: US-China trade truce is not effective enough
(VOVWORLD) -The new International Monetary Fund (IMF) chief Kristalina Georgieva welcomed the US and China reaching a partial trade agreement, but said it is not enough to reverse the negative effects of trade tensions on the global economy.
 International Monetary Fund (IMF) chief Kristalina Georgieva (Photo: VNA) |
Speaking to the press at the start of the IMF's annual meeting, Ms Georgieva said “that the US and China are negotiating with each other is good news, but it’s not enough". The IMF forecasts that US-China trade tensions will reduce global economic growth by 0.8%. However, Ms Georgieva said a trade truce "could reduce this loss by 0.2%". IMF leaders said the world’s two leading economies need to reach an armistice and also an agreement to end the trade war, so that "trade can return to its role as the growth engine of the world economy".