currency wars could be detrimental for growth lagarde
Last Updated : GMT 19:07:01
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 19:07:01
Arab Today, arab today

Currency wars could be detrimental for growth "Lagarde"

Arab Today, arab today

Arab Today, arab today Currency wars could be detrimental for growth "Lagarde"

International Monetary Fund Managing Director Christine Lagarde.
Indonesia - Arab Today

International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries of the perils of a trade or a currency war, saying they could be detrimental to global growth and hurt “innocent bystanders.”

Lagarde urged countries to “de-escalate” trade frictions and fix global trading rules, rather than abandon them.

“We certainly hope we don’t move in either direction of a trade war or a currency war. It will be detrimental on both accounts for all participants, Lagarde told a news conference during the annual meetings of the IMF and World Bank in Indonesian resort island of Bali.

“And there would also be lots of innocent bystanders.”

China and the United States have slapped tit-for-tat tariffs over the past few months, rattling financial markets as investors worried the escalating trade war could knock global trade and investment.

On recent yuan declines, Lagarde said they were mainly driven by the strength of the dollar, noting that it has not depreciated as much against a basket of currencies.

“We’re seeing more and more countries, China included, let their currencies fluctuate,” Lagarde said.

The yuan currency has faced strong selling pressure this year, losing over 8 percent between March and August at the height of market worries, though it has since pared losses as authorities stepped up support.

A US Treasury official on Monday repeated that the Trump administration was concerned about the yuan’s recent weakening as the department prepares a semi-annual report on currency manipulation due out next week.

US President Donald Trump has accused China of deliberately manipulating its currency to gain a trade advantage, claims Beijing consistently rejected.

“We have supported the move of China toward (currency) flexibility,” she said, adding that the IMF has encouraged Chinese authorities to “go down that path.”

Lagarde urged China to follow through on the IMF’s recommendation to continue moving toward a system that allows the yuan to move flexibly.

She declined to comment on the recent market rout, but said US equities and overall stock prices “in general have been extremely high.”

From: Arabnews

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

currency wars could be detrimental for growth lagarde currency wars could be detrimental for growth lagarde

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

currency wars could be detrimental for growth lagarde currency wars could be detrimental for growth lagarde

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 15:00 2017 Sunday ,19 February

Hana El Zahed tells her career's story

GMT 16:06 2017 Sunday ,30 July

Lara Tamash warns of social media's impact

GMT 16:09 2017 Tuesday ,19 September

CBS's Australia TV deal favoured over Murdoch bid

GMT 01:11 2017 Wednesday ,20 December

Deputy King receives Nepalese ambassador

GMT 13:28 2017 Friday ,31 March

Bershka launches debut make-up collection

GMT 01:26 2017 Saturday ,18 November

Reports underline proliferation of weapons

GMT 13:36 2017 Thursday ,13 April

Khaled El Sawy reveals his new movie details

GMT 09:07 2013 Tuesday ,17 September

Egyptian opera singer Ratiba El-Hefny passes away

GMT 07:29 2017 Tuesday ,14 November

Gulf, Aerospace Enterprise sign agreement

GMT 12:44 2017 Sunday ,04 June

Hassan Hallak reveals Lebanese Ramadan habits

GMT 11:49 2014 Thursday ,11 December

Sanam Puri to Perform at Global Village

GMT 14:52 2017 Wednesday ,29 November

Societe Generale shares climb after cost-cutting plan

GMT 13:15 2017 Monday ,27 November

Shanghai police see no foul play

GMT 08:07 2017 Sunday ,29 October

Test drive: The Rolls-Royce Phantom VIII

GMT 23:32 2015 Wednesday ,14 January

Kuwaiti crown prince receives Sheikha Suad al-Sabah

GMT 09:16 2018 Monday ,15 January

Protests mark Tunisia uprising anniversary

GMT 08:32 2018 Saturday ,13 January

Tunisia protesters give government yellow card
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday