IMF, WB urges members to aovid protectionism

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A joint statement issued after the Development Committee meeting has called on all nations to steer clear of trade protectionism.

According to the statement, there is agreement that global trade and investment are developing along the right track, and should lead ultimately to recovery.

But it also stressed the need to stick to promises made regarding protectionism.

Meanwhile, World Bank President Robert Zoellick has also added that trade protectionism could cast a shadow on recovery in the world economy.