WASHINGTON, OCTOBER 19 (XINHUA) -- THE INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE, THE DECISION-MAKING BODY OF THE INTERNATIONAL MONETARY FUND (IMF), URGED ALL PARTIES TO RESOLVE TRADE TENSIONS AND SUPPORT NECESSARY REFORMS OF THE WORLD TRADE ORGANIZATION (WTO) TO PROMOTE GLOBAL ECONOMIC GROWTH.THE 40TH MINISTERIAL MEETING OF THE INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE ENDED IN WASHINGTON ON THE SAME DAY. THE COMMUNIQUE RELEASED AFTER THE MEETING STATED THAT DUE TO FACTORS SUCH AS TRADE TENSIONS, POLICY UNCERTAINTY, AND GEOPOLITICAL RISKS, THE GLOBAL ECONOMIC OUTLOOK IS HIGHLY UNCERTAIN, WITH INCREASED DOWNSIDE RISKS. AT THE SAME TIME, IT ALSO FACES LIMITED POLICY SPACE, RISING DEBT LEVELS, AND INCREASED FINANCIAL FRAGILITY.THE COMMUNIQUE POINTS OUT THAT FREE, FAIR, AND MUTUALLY BENEFICIAL TRADE IN GOODS AND SERVICES, AS WELL AS INVESTMENT, ARE KEY ENGINES FOR ECONOMIC GROWTH AND JOB CREATION. A STRONG INTERNATIONAL TRADING SYSTEM THAT CAN RESPOND TO CURRENT AND FUTURE CHALLENGES AND ENFORCE RULES WELL WILL PROVIDE SUPPORT FOR GLOBAL ECONOMIC GROWTH. TO THIS END, WE RECOGNIZE THE NEED TO ADDRESS TRADE TENSIONS AND SUPPORT THE WORLD TRADE ORGANIZATION IN IMPLEMENTING NECESSARY REFORMS TO IMPROVE ITS OPERATIONSTHE CHAIRMAN OF THE INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE AND GOVERNOR OF THE SOUTH AFRICAN CENTRAL BANK, LAISSEZIA KANIAGO, STATED AT A PRESS CONFERENCE ON THE SAME DAY THAT TRADE TENSIONS WILL HAVE A NEGATIVE IMPACT ON INTERNATIONAL TRADE, WHICH IN TURN WILL AFFECT GLOBAL INVESTMENT, ECONOMIC GROWTH, AND EMPLOYMENT. HE EMPHASIZED THAT INTERNATIONAL TRADE IS THE LIFELINE OF THE GLOBAL ECONOMY, AND THERE ARE NO WINNERS IN TRADE WARS; IN THE END, THE LOSER OF ****** WILL BE THE GLOBAL ECONOMY.KRISTALINA GEORGIEVA, MANAGING DIRECTOR OF THE INTERNATIONAL MONETARY FUND, STATED AT A PRESS CONFERENCE THAT OFFICIALS DISCUSSED A SERIES OF CONSEQUENCES OF TRADE TENSIONS: TRADE TENSIONS CAN BRING UNCERTAINTY, SLOW INVESTMENT, LEAD TO ECONOMIC GROWTH SLOWDOWN, AND MAY RESULT IN JOB LOSSES, ULTIMATELY ERODING CONSUMER CONFIDENCE, AND EVERYONE WILL SUFFER IN A TRADE WAR.GEORGIEVA SAID THAT ALTHOUGH SOME ECONOMIES ARE CURRENTLY DOING WELL OVERALL, THE MANUFACTURING INDUSTRY IS FEELING THE IMPACT OF SLOWING INVESTMENT, AND CONSUMER CONFIDENCE WILL ALSO BE AFFECTED IN THE FUTURE.THE INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE HOLDS TWO MEETINGS A YEAR TO DISCUSS THE GLOBAL ECONOMIC SITUATION AND PROVIDE WORK RECOMMENDATIONS TO THE INTERNATIONAL MONETARY FUND.