IMF sees some easing of US-China tensions, urges reforms of global trade system

International Monetary Fund Managing Director Kristalina Georgieva at the IMF/World Bank annual meetings on in Washington Oct 17, 2019.
International Monetary Fund Managing Director Kristalina Georgieva at the IMF/World Bank annual meetings on in Washington Oct 17, 2019. PHOTO: REUTERS

WASHINGTON (REUTERS) - The International Monetary Fund said on Thursday (Oct 17) it saw signs of de-escalation in trade tensions between the United States and China, which could reduce the damage already caused to the global economy by tit-for-tat tariffs.

Managing Director Kristalina Georgieva said she was encouraged by news of a tentative trade deal reached by Washington and Beijing last week, but urged the world's two largest economies to work toward a lasting "trade peace".

Georgieva, speaking with reporters at the IMF/World Bank annual meetings, also called for countries to work together to reform the global trade system, to ensure a more peaceful and prosperous world in the future.