Posted April 27, 2009
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Protectionist Policies

World Bank President: G20 Nations Continue To Restrict Trade

"World Bank President Robert Zoellick expressed concern Thursday that G20 countries continue to restrict trade flows despite vowing to resist protectionist policies.... 'As the recession deepens, leaders will be under pressure to protect home markets,' said Zoellick. 'Such retreats behind barriers will only make the economic crisis worse.'..." [Dow Jones/Factiva]

Reuters adds that Zoellick said "...nearly half of the G20 nations are considering or have taken measures to restrict trade in the face of an economic downturn. 'Since the G20 meeting less than 3 weeks ago, nine G20 countries have taken or are considering 23 measures that restrict trade at the expense of other countries,' Zoellick told a news conference before World Bank and International Monetary Fund (IMF) meetings in Washington this weekend.... A World Bank report identified the countries as the US, Brazil, Argentina, India, Russia, France, Britain, Germany and Italy...." [Reuters/Factiva]

AFP writes that "...Zoellick called on the G20 countries, whose finance officials will meet Friday in Washington, to follow through on their commitments. 'In addition to communiques, you've got to have delivery,' he said. Zoellick said the World Bank was working to become more transparent and active, and that was why the bank was prodding countries to resist taking protectionist trade actions...." [Agence France Presse/Factiva]

Submit press release to pressrelease@exchangemagazine.com - Editor Jon Rohr - Content published on this site represents the opinion of the individual or organization and/or source provider. ExchangeMagazine.com is non-partisian online economic development journal. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2009/*.*. Additional editorials, comments and releases are copyright of respective source(s).

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