World Bank chief warns against protectionism
The head of the World Bank says the world economic crisis is spawning restrictive trade measures that threaten to slow a recovery.
By Agencies |
VINA DEL MAR, Chile: The head of the World Bank says the world economic crisis is spawning restrictive trade measures that threaten to slow a recovery.
Robert Zoellick says those measures are ``at a low level fever'' now.
But he warns ``we have to be careful the temperature of the fever does not increase.''
Zoellick said protectionism was discussed at a Friday meeting of Latin American finance ministers he attended in Chile. He gave no details on what was said behind closed doors.
Zoellick says the World Bank intends to help finance $50 billion in trade in the next three years to help commercial flows rebound from the global downturn.
About $12 billion of that will be destined for Latin America.
Robert Zoellick says those measures are ``at a low level fever'' now.
But he warns ``we have to be careful the temperature of the fever does not increase.''
Zoellick said protectionism was discussed at a Friday meeting of Latin American finance ministers he attended in Chile. He gave no details on what was said behind closed doors.
Zoellick says the World Bank intends to help finance $50 billion in trade in the next three years to help commercial flows rebound from the global downturn.
About $12 billion of that will be destined for Latin America.
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