INSUBCONTINENT EXCLUSIVE:
IMF Chief Christine Lagarde at the G20 Meeting in Buenos Aires.Buenos Aires: Finance ministers and central bankers from the world's largest
economies meeting in Argentina said heightened trade and geopolitical tensions pose an increased risk to global growth and have called for
greater dialogue, according to a draft communique from the meeting.The draft reviewed by Reuters, which is still subject to possible
revisions, also noted that emerging market economies are better prepared to adjust to external shocks but they still face challenges from
market volatility and reversals of capital flows."Global economic growth remains and unemployment is at a decade low
However, growth has been less synchronized recently and downside risks over the short- and medium-term have increased," the draft
said."These include rising financial vulnerabilities, heightened trade and geopolitical tensions, global imbalances, inequality and
structurally weak growth, particularly in some advanced economies."The draft communique emphasized that structural reforms were needed to
enhance the potential growth of economies, and reaffirmed commitments from the previous G20 finance ministers meeting in March to refrain
from competitive devaluations that could have adverse effects on global financial stability.The ministers reaffirmed the conclusions from
G20 leaders at their most recent summit in Hamburg in July last year, when they emphasised that trade was an engine of global growth and
reaffirmed the importance of multilateral trade agreements."Werecognise the need to step up dialogue and actions to mitigate risks and
enhance confidence," the draft said
"We are working to strengthen the contribution of trade to our economies."© Thomson Reuters 2018(This story has not been edited by
TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
