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Lagarde Says IMF Believes in Free, Equal Global Trade

International Monetary Fund Managing Director Christine Lagarde said all of its 189 members believe in free and impartial global trade and the institution will keep growing to meet and adjust to the needs of the membership.

Lagarde said they will keep an open ear since they themselves change over time. She added IMF members were determined to find ways to ensure that trade benefits all in a level playing field.

The IMF head also said China won't likely make major strides toward necessary reforms to its economy which would curb escalating debt levels until after the Asian nation's party convention this year

However, she said the country was implementing certain measures to downsize excess capacity in its coal and steel sectors.

Lagarde noted it is impossible to provide more reviews of currency valuations more than its annual report, saying it entails a lot of extensive work and analysis.

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