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Buenos Aires finance ministers meet this weekend in Buenos Aires to discuss threats to global economic growth, particularly the risk of trade war and crisis in emerging countries.
Managing Director of the International Monetary Fund Christine Lagarde said Wednesday that the third meeting of Finance Ministers of the Group of 20 led by Argentina, pointing out that a trade war could cost hundreds of billions of dollars to the gross domestic product of the world.The government of President Donald Trump also warned that
Sources close to the negotiations said the meeting in Buenos Aires would lead to a common text, unlike the G7 summit in early June, when President Trump withdrew his support for a statement prepared by his allies.
But a statement condemning protectionism is not expected because the "borders" of the G-20, as acknowledged by the Argentine Minister of Economy Nicholas Duchovny at the last meeting of the group in Washington in April.
In March, at their first meeting in Buenos Aires, ministers narrowly reached a statement that they confessed the existence of "economic and geopolitical tensions" threatens global growth.
Since then, Trump has gone from speech to action despite warnings from the International Monetary Fund and its partners of a trade war that no one will win.
And a punitive 25 percent tariff on Beijing for $ 34 billion worth of products sold in the United States and threatened to impose tariffs on car imports.
He reached the end of last week calling the European Union an "enemy" "At the commercial level.
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The States The United States announced that they would travel to Buenos Aires to fend off "China's economic aggression," a country criticized by Treasury Secretary Stephen Menuchin at the March meeting but avoiding a ban. Taking Washington's allies in.
Buenos Aires finance ministers will necessarily tackle the emerging-country crisis Buenos Aires recently received a $ 50 billion loan from the International Monetary Fund (IMF) to counter the low price of the peabad, which dropped by 35% between April and June
A French source told the Agence France-Presse: The dollar and the question of capital. "
Lagarde said that $ 14 billion had been withdrawn from these markets between May and July une.
The French source added: "We are in a period of tighter monetary policy." With the risk that emerging countries will also have to raise their interest rates to curb the decline
In this climate the ministers will discuss the issue of the debt of the poorest countries, which have seen a significant increase in recent years.
The French source states that "the focus will be on the transparency of the debt and the solvency of the poorest countries".
The tax issue will also be raised at the G-20 meeting, which failed to reach a consensus in March on taxes for giant digital groups.
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