IMF Calls on G20 to Boost Positive Image of Globalization

WASHINGTON (Sputnik) — The International Monetary Fund (IMF) called on G20 states to stimulate the processes of promoting the positive image of globalization to deal with increased political risks in the economy, according to the documents prepared for the upcoming G20 meeting in China.

On July 23-24, the G20 meeting of finance ministers and central bank governors will be held in Chengdu, China, with focus on global growth, consequences of Brexit and issues of international taxation, among other points. IMF Managing Director Christine Lagarde will participate in the summit.

According to the IMF documents, the G20 members should restore the spirit of multilateralism and globalization, increasing the positive role of the latter, in order to properly address the growing political risks.

IMF also said that the G20 should focus on reducing losses for the workers affected by globalization, which will require the use of financial resources, in particular, for the training, as well as a convincing communication strategy.

The fund underscored that non-political risks, such as terrorism, natural disasters and new diseases, were also dangerous for the global economy.

The G20 is an international forum for the world's 20 biggest economies. Its participants include the United States, Russia, China, Japan, South Korea, India, Mexico and the United Kingdom, among others.