World Bank, IMF challenged by anti-globalization wave

Mark Carney, Governor of the Bank of England and Chair of the Financial Stability Board, speaks alongside IMF Managing Director Christine Lagarde during a CNN Debate on the Global EconomyGlobal finance leaders on Thursday publicly confronted the rising unpopularity of trade liberalization, saying world economies needed to strive for more inclusive growth. With Republican presidential candidate Donald Trump leading a surge of anti-free trade sentiment in the United States, and Britain voting to secede from the European Union, top central bankers and finance ministers were pressed to defend long-standing ideology at the World Bank and International Monetary Fund annual meetings. “We shouldn’t apologize for what has happened and hundreds of millions of people being lifted out of poverty and opportunity being created,” Mark Carney, governor of the Bank of England, told a panel on the global economy.

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