Fund, Bank put trade on agenda

Institutions to prepare report on global stakes involved in trade liberalisation

The annual meeting of the International Monetary Fund (IMF) and World Bank is feeling the tremors of the collapse of the trade talks in Cancun.

Under pressure from finance ministers of developing countries, the International Monetary and Financial Committee (IMFC), which met here today, directed the president of the World Bank and the managing director of the IMF to prepare a report on the stakes involved for both developing and developed countries in pursuing trade reforms.

IMFC Chairman Gordon Brown, who is also the Chancellor of the Exchequer of the UK, said the report would be sent to the heads of state, finance and trade ministers of all countries.