IMF chief hits out at politicians' protectionist stance

Tokyo

INTERNATIONAL Monetary Fund (IMF) managing director Christine Lagarde has voiced alarm at what she says is "the growing risk of politicians seeking office by promising to get tough with foreign trade partners through punitive tariffs or other restrictions on trade".

"I am deeply concerned about this," said Ms Lagarde, who used the occasion of the Sylvia Ostry Lecture in Toronto on Tuesday to mount a strong defence of globalisation while also admitting to defects in the process.