Washington: The International Monetary Fund yesterday urged G20 leaders to avoid “myopic” nationalistic policies and to work together to resolve their trade and economic differences during their upcoming meeting in Germany later this week.
In a pointed message before the July 7-8 gathering - the first for US President Donald Trump - in Hamburg, Germany, the IMF said a rules-based and open trading system was vital for a stable world economy.
“Myopic pursuit of zero-sum policies can only end by hurting all countries, as history shows,” the IMF said in its G20 surveillance note.
“Because national policies inevitably interact in a number of vital areas, creating strong spillovers across countries, the world economy works far better for all when policymakers engage in regular dialogue and work within agreed mechanisms to resolve disagreement,” the IMF said.
