IMF steering committee underscores trade risks to global economy, Fund's role

WASHINGTON, April 25 (Reuters) - International Monetary Fund member countries said on Friday that rising trade tensions were sapping growth and fueling uncertainty and market and financial stability risks, but reaffirmed their commitment to the institution as critical to helping countries navigate a difficult environment.

In a chair's statement, the IMF's steering committee also reaffirmed prior foreign exchange commitments and voiced support for a realignment of quotas, or shareholding, that better reflects countries' positions in the global economy.

"The world economy is at a pivotal juncture. Following several years of rising concerns over trade, trade tensions have abruptly soared, fueling elevated uncertainty, market volatility, and risks to growth and financial stability," the International Monetary and Financial Committee (IMFC) said in a statement.