WRAPUP 2-IMF, global finance leaders fret over populist backlash

Thu Oct 6, 2016 4:50pm EDT
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(Adds comments from Latin American finance ministers)

* Germany's Schaeuble says elites increasingly distrusted

* IMF chief urges more infrastructure, education spending

* Deutsche Bank problems loom over IMF, World Bank meetings

By David Lawder

WASHINGTON, Oct 6 (Reuters) - World finance leaders on Thursday decried a growing populist backlash against globalization and pledged to take steps to ensure trade and economic integration benefited more people currently left behind.

Their comments at the start of the International Monetary Fund and World Bank fall meetings signaled frustration with persistently low growth rates and the surge of public anger over free trade and other pillars of the global economic system.

The meetings are the first since Britain voted in June to leave the European Union and U.S. billionaire Donald Trump secured the Republican presidential nomination with a campaign that attacked trade deals.

"More and more, people don't trust their elites. They don't trust their economic leaders, and they don't trust their political leaders," German Finance Minister Wolfgang Schaeuble said during an IMF panel discussion in Washington.   Continued...