IMF urges G20 cooperation to preserve trade, reduce imbalances

The International Monetary Fund on Tuesday called on the Group of 20 major economies to work together to preserve the benefits of trade and avoid protectionism.

In a "surveillance note", the IMF outlines its view of prospects and risks to the global economy issued ahead of a G20 finance ministers meeting this week in Baden-Baden, Germany.

The IMF said that international cooperation was needed to maintain trade as an engine of growth that has lifted millions out of poverty worldwide.

Despite the IMF's concern over reversions to nationalist economic policies, the IMF said that the global economic outlook was improving as growth prospects have improved in Britain, Europe and Japan in recent months.

Source: VOV5