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IMF: increased protectionism ‘alarming’

The International Monetary Fund (IMF) has said that signs of increased protectionism amid deteriorating global economic conditions were "alarming", and warned such measures affect everyone, AFP has reported. "The latest report by the WTO (World Trade Organization) is quite alarming because there is a rise of protectionism," IMF chief Christine Lagarde said, adding the IMF would cut its growth forecast in its global outlook to be released later this month. Last May, WTO director general Pascal Lamy warned that an increase in protectionist policies across the world's 20 major economies had hit 4% of the group's trade.