IMF steering committee says trade tensions among key risks to global economy

WASHINGTON (Reuters) - The steering committee of the International Monetary Fund said on Saturday trade tensions were among key downside risks to the global economy and that it recognised the need to deal with these issues, including the reform of the World Trade Organization.

“A strong international trading system with well-enforced rules addressing current and future challenges would support global growth,” the IMFC said in its communique.

“We recognise the need to resolve trade tensions and support the necessary reform of the World Trade Organization to improve its functioning,” it said.

The IMFC said policy uncertainty and geopolitical risk also were risks to the economic outlook.

Reporting by David Lawder, Leika Kihara and Andrea Ricci; Editing by Paul Simao