The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, said Thursday that the member countries of the organization must reach a "commercial peace" so that trade is once again the "engine" of the global economy.

During his opening speech at the annual meeting held by the IMF in Washington, Georgieva added that the institution "has to be at the center of the global security network", promoting relations between its members.

Last week the IMF calculated that the commercial tensions accumulated for a year will cost the global economy 700,000 million dollars (637,000 million euros) of potential growth in 2020, the equivalent of eight tenths of gross domestic product growth (GDP ).

This week, the IMF decided to lower its forecast of global GDP growth for 2019 to 3%, while the forecast for 2020 fell to 3.4%.

During her speech, the managing director said that the IMF economists have calculated that the partial agreement reached by the United States and China to solve their trade dispute will reduce that negative impact by two tenths, equivalent to 175,000 million dollars (157,000 million dollars). euros)

On the other hand, Georgieva has argued that the priorities of the short-term countries, given the downside risks that have accumulated, should be to find a "lasting solution" to the world trading system, use monetary policy "wisely", promote international cooperation and carry out structural reforms to, among other objectives, increase productivity.

"The current commercial system has served us well in the past, but it will not do so in the future. The world will continue to move forward, it will not stand still," Georgieva added.

In his opinion, all IMF member countries have an obligation to "find ways to cooperate and make the dynamics of the global economy stronger."

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