NEW DELHI : With protectionism taking toll on the growth of the world economy and affecting many countries, Finance Minister Nirmala Sitharaman has said that the ongoing trade wars have caused uncertainties and will ultimately impact the flow of capital, goods and services. Drawing the attention of major countries to the current economic issues, Sitharaman said the increased trade integration, geopolitical uncertainties, and high accumulated debt levels necessitate strong global coordination. "We need not wait for the slowdown to become a crisis," she cautioned as per a Finance Ministry statement. "A solution that is simple to implement, simple to administer and simple to comply with is needed," the Minister said. On the sidelines of the meetings, the Finance Minister held several bilateral meetings including with the first Deputy Prime Minister and Finance Minister of Russia Anton Siluanov.

Source: Mint October 19, 2019 10:18 UTC