WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Friday she was hoping for an agreement between the U.S. and China that avoids a cutoff in the flow of rare earths to the global economy, adding that such restrictions would have a “material impact” on growth. Georgieva told a press conference during the […]
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IMF chief hopes for US-China rare earths deal to avoid ‘material impact’ on global economy
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WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Friday she was hoping for an agreement between the U.S. and China that avoids a cutoff in the flow of rare earths to the global economy, adding that such restrictions would have a “material impact” on growth.
Georgieva told a press conference during the annual meetings of the IMF and World Bank in Washington that such a scenario would exacerbate uncertainty and hurt an already weakened global growth picture.
“There is also still a sense of anxiety, because the performance of the world economy is less than we need it to be, and because there is a very dark cloud of uncertainty still holding lower our heads, and that uncertainty has become now the new normal.”
(Reporting by Andrea Shalal and David Lawder; Editing by Paul Simao)