A March staff paper by the IMF outlines that although trade restriction measures have increased in the wake of the financial crisis, they have only had a strong negative impact in the products they targeted, and their aggregate impact is just 0.25 per cent of global trade. The IMF has called on the World Trade Organisation (WTO) to further monitor protectionist measures, and recommended completing the WTO Doha Round of trade talks. Meanwhile, the World Bank is formulating a global trade strategy, with stakeholder consultations both before and after a draft is released in July.
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