July 10, 2012 / 3:04 AM / 6 years ago

IMF's Lagarde urges caution over protectionism

JAKARTA (Reuters) - IMF Managing Director Christine Lagarde on Tuesday said the global economic situation was worrisome and urged countries to be cautious of protectionism.

International Monetary Fund (IMF) Managing Director Christine Lagarde (C) looks on as Indonesia's Vice President Boediono (R) talks to Anoop Singh, director of the Asia and Pacific Department of the IMF, at the Vice Presidential Palace in Jakarta July 9, 2012. REUTERS/Supri

Lagarde described as “quite alarming” a report published by the World Trade Organization in June which said the world’s trading nations were succumbing to protectionism in the wake of the global financial crisis.

Lagarde was speaking during a visit to Indonesia, Southeast Asia’s largest economy, which she said was doing well citing growth above 6 percent and low public debt.

Reporting by Aditya Suharmoko; Writing by Matthew Bigg; Editing by Michael Perry

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