IMF Warns of Division in the Global Economy into Separate Blocs

The International Monetary Fund (IMF) expressed its concerns today regarding the division of global trade into separate blocs, stating that such developments could reduce global economic output by seven percent. IMF spokesperson Julie Kozak said at a regular press conference, "We believe this would be costly for the global economy... Our analysis indicates that division could shrink the world's GDP by seven percent, which is equivalent to that of Germany and Japan."