1 BOM CALLS TO TRADE WITH NEIGHBORS IN THEIR NATIONAL CURRENCY WWW.MONTSAME.MN PUBLISHED:2018/10/19      2 RUSSIAN DEFENSE MINISTER S.K.SHOIGU PAYS VISIT TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/10/19      3 CZECH COMPANY TO RECIEVE WORKFORCE FROM MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/10/19      4 RUSSIA TO EXPAND MILITARY-TECHNICAL COOPERATION WITH MONGOLIA WWW.TASS.COM PUBLISHED:2018/10/19      5 JAPAN, NORTH KOREA INTELLIGENCE OFFICIALS HELD SECRET MEETING IN OCTOBER IN MONGOLIA WWW.JAPANTIMES.COM PUBLISHED:2018/10/19      6 MONGOLIA, VIETNAM SIGN AGREEMENT ON TRANSFER OF SENTENCED PERSONS WWW.XINHUANET.COM PUBLISHED:2018/10/19      7 CREDIT GUARANTEE FUND HELPS FINANCE 640 SMES WWW.ZGM.MN PUBLISHED:2018/10/19      8 MONGOLIAN PM PLANS TO VISIT RUSSIA BY END OF THE YEAR WWW.NEWS.MN PUBLISHED:2018/10/19      9 BUSINESSMEN OF AZERBAIJAN AND MONGOLIA AGREE ON COOPERATION WWW.AZERNEWS.AZ PUBLISHED:2018/10/18      10 GGGI SUPPORTS MOU SIGNING BETWEEN CHINA AND MONGOLIA TO PROMOTE COLLABORATION OF TWO COUNTRIES IN FIELDS OF ENERGY EFFICIENCY WWW.GGGI.ORG PUBLISHED:2018/10/18      МОНГОЛ УЛСЫН ЕРӨНХИЙЛӨГЧ Х.БАТТУЛГА ХБНГУ-ЫН КАНЦЛЕР АНГЕЛА МЕРКЕЛЬ НАР УУЛЗАВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/10/19     2019 ОНЫ МӨНГӨНИЙ БОДЛОГЫН ҮНДСЭН ЧИГЛЭЛИЙГ ХЭЛЭЛЦЭХИЙГ УИХ ДЭМЖИВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/10/19     АГААРЫН БОХИРДОЛ, ДЭД БҮТЭЦ, ХОТ ТӨЛӨВЛӨЛТ ЧИГЛЭЛД ФРАНЦ МЭРГЭЖИЛТНҮҮДИЙГ УЛААНБААТАРТ АЖИЛЛУУЛАХААР БОЛОВ WWW.IKON.MN НИЙТЭЛСЭН:2018/10/19     БНХАУ-ЫН ЭДИЙН ЗАСГИЙН ӨСӨЛТ БУУРАХ ТӨЛӨВТЭЙ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/10/19     АЗИ-ЕВРОПЫН ДЭЭД ХЭМЖЭЭНИЙ XII УУЛЗАЛТААР ХУДАЛДАА, АЮУЛГҮЙ БАЙДЛЫН АСУУДЛЫГ ГОЛЧЛОН ХЭЛЭЛЦЭНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/10/19     ЯМАР Ч НӨХЦӨЛД ОНГОЦЫГ АЮУЛГҮЙ БУУЛГАХ БОЛОМЖТОЙ БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/10/19     ЯПОН, ХОЙД СОЛОНГОСЫН ТАГНУУЛЫН ТӨЛӨӨЛӨГЧИД МОНГОЛД НУУЦААР УУЛЗЖЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2018/10/19     ЕРӨНХИЙЛӨГЧ Х.БАТТУЛГА АСЕМ-ИЙН НЭЭЛТИЙН ХУРАЛДААНД ОРОЛЦОЖ, ҮГ ХЭЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/10/19     БЯСЛАГИЙН ҮЙЛДВЭРЛЭЛИЙГ НЭМЭГДҮҮЛЭХ ТАЛААР САНАЛ СОЛИЛЦЛОО WWW.ZINDAA.MN НИЙТЭЛСЭН:2018/10/18     “ЭРДЭНЭС ТАВАНТОЛГОЙ" КОМПАНИЙН ОЛОН НИЙТИЙН ЗӨВЛӨЛИЙН ГИШҮҮДИЙГ СОНГОЖЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/10/18    

IMF's Lagarde warns trade, currency wars could be detrimental for growth www.reuters.com

NUSA DUA, Indonesia (Reuters) - International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries of the perils of a trade or a currency war, saying they could be detrimental to global growth and hurt “innocent bystanders.”

Lagarde urged countries to “de-escalate” trade frictions and fix global trading rules, rather than abandon them.

“We certainly hope we don’t move in either direction of a trade war or a currency war. It will be detrimental on both accounts for all participants, Lagarde told a news conference during the annual meetings of the IMF and World Bank in Indonesian resort island of Bali.

“And there would also be lots of innocent bystanders.”

China and the United States have slapped tit-for-tat tariffs over the past few months, rattling financial markets as investors worried the escalating trade war could knock global trade and investment.

On recent yuan declines, Lagarde said they were mainly driven by the strength of the dollar, noting that it has not depreciated as much against a basket of currencies.

“We’re seeing more and more countries, China included, let their currencies fluctuate,” Lagarde said.

The yuan currency CNY=CFXS has faced strong selling pressure this year, losing over 8 percent between March and August at the height of market worries, though it has since pared losses as authorities stepped up support.

A U.S. Treasury official on Monday repeated that the Trump administration was concerned about the yuan’s recent weakening as the department prepares a semi-annual report on currency manipulation due out next week.

US President Donald Trump has accused China of deliberately manipulating its currency to gain a trade advantage, claims Beijing consistently rejected.

“We have supported the move of China toward (currency) flexibility,” she said, adding that the IMF has encouraged Chinese authorities to “go down that path.”

Lagarde urged China to follow through on the IMF’s recommendation to continue moving toward a system that allows the yuan to move flexibly.

She declined to comment on the recent market rout, but said U.S. equities and overall stock prices “in general have been extremely high.”

Additional reporting by Yawen Chen; Editing by Shri Navaratnam



Published Date:2018-10-11