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Jim Yong Kim

Global moot to discuss challenges to globalization from Trump, Europe populists

WASHINGTON: In annual financial moot of the International Monetary Fund (IMF) and the World Bank heree the World finance leaders have defended globalisation against the policies of U.S. President Donald Trump and European populists. They argued that blocking free trade would hobble economic growth instead of saving jobs from foreign competition. World Bank President Jim Yong Kim told media-persons that free trade and more openness were “critical for the future of the world.” Christine Lagarde, the managing director of…

World Bank, IMF challenged by anti-globalization wave

WASHINGTON: World Bank and IMF leaders on Thursday confronted the rising unpopularity of globalization while urgently calling on countries to stimulate more equal economic growth. "My message to the members of the IMF tomorrow will be, 'Action, please,'" Lagarde told reporters in Washington at the opening of the annual meetings of International Monetary Fund and World Bank. But, faced with a surge of anti-free trade sentiment in the United States, Europe and elsewhere, Lagarde warned that now was not the time to close the…