Low Revenue: India should implement GST Fully, says International Monetary Fund

Trade disputes, debt burden threaten global growth: IMF

Trade disputes, debt burden threaten global growth: IMF

He urged the International Monetary Fund to go beyond its traditional role as an emergency lender for countries in financial distress and said it should more closely monitor the practices of countries that persistently run large trade surpluses.

Lagarde again urged countries to "steer clear of all protectionism", saying that "unilateral trade restrictions have not proven helpful".

The IMF's governing committee in a statement at the conclusion of the ministerial meeting highlighted the risks presented by 'increasing trade and geopolitical tensions'.

German Finance Minister Olaf Scholz met with US Vice President Mike Pence and Trump economic adviser Larry Kudlow at the White House, and afterwards told reporters that "all sides are really working on finding a good solution".

The Commerce Ministry in Beijing said Sunday that China welcomes a visit from the U.S.to Beijing to discuss trade issues and confirms it has "received information" regarding Washington's interest in such a trip.

And shortly after her comments, US Treasury Secretary Steven Mnuchin announced he was considering a trip to Beijing to hold talks on the trade dispute, a welcome respite after weeks in which tensions had ratcheted ever higher.

President Donald Trump last month approved steep tariffs on tens of billions of dollars of Chinese imports, while Beijing has slapped duties on key USA agricultural exports and has threatened to do likewise for the sensitive American soybean industry.

Europe was also hit by the steel and aluminum tariffs but the United States suspended the duties on imports from the EU, Canada, Mexico and four other countries, leaving China as the primary target.

The call was made by Union Finance Minister Arun Jaitley in his speech at the International Monetary and Financial Committee that was delivered in his absence on Saturday by Reserve Bank of India (RBI) Governor Urjit Patel.

Folsom runner places third in Boston Marathon, tops among Americans
She was also the first finisher among the women from ME and turned in her best time in her three Boston Marathons . Her time of 2 hours 44 minutes 4 seconds put her second among the seven American women who placed in the top 10.

Secretary Mnuchin also said the discrepancies in worldwide trade have widened since the 1980s and 1990s.

Mnuchin indicated he's involved in a "dialogue" with the Chinese government to resolve the trade dispute. Each has proposed imposing tariffs of $50 billion on each other's products; President Donald Trump is looking to impose tariffs up to $100 billion more on Chinese goods.

But German central bank chief Jens Weidmann said the G20 officials all agreed trade must benefit all countries.

The Secretary expressed India's support for the shareholding review, "including development of dynamic formula and the capital package", the Ministry said in a statement.

In a closing communique, the International Monetary Fund expressed concern that the rising trade tensions could dim what at the moment are bright prospects for the global economy, which is expected to grow this year at the fastest pace since 2011.

As trade tensions simmer between the world's two largest economies, Mnuchin said on Saturday he may travel to China.

"I hope that these International Monetary Fund meetings will be marked by this spirit".

Lagarde said that the United States and China should work on the basis of free trade and within the framework of the rules-based multilateral institutions.

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