Do What We Say, Not What We Do:

Having packed their bags and left Horsham, the finance ministers of the G20 - and indeed their political chiefs planning to meet for the main summit at Downing Street on 2 April - might want to plan a trip to Quito, capital of Ecuador, where they can witness a remarkable protectionist experiment at first hand.

No other nation may have reacted to the economic crisis with such naked defiance as Ecuador - but she is hardly alone. Researchers at the World Bank say that, since the last G20 leaders' summit in Washington, several countries, including 17 of the G20, have implemented 47 major measures whose effect is "to restrict trade at the expense of other countries". Of the G20 group, only Japan, Saudi Arabia and South Africa were given a clean bill of heath.

More broadly, World Bank officials have identified 78 often inventive actions in restraint of trade. They include: Russia's increased tariffs on used cars; the European Union reintroducing export subsidies for butter, cheese and milk powder; Argentina's imposition of non-automatic licensing requirements on auto parts, textiles, TVs, toys, shoes, and leather goods; Indonesia's requirement that five categories of goods (including clothes, footwear, toys, electronics, food and drink) would be permitted through only five ports and airports.

The World Bank talks about "incipient but worrisome trends", though it concludes that, for now, the global collapse in demand and shrinking trade finance has had a more significant effect than new tariffs and quotas. The IMF says world trade will decline by 5 per cent this year - the first decline since 1982 and the largest reduction since the Second World War.

The best that can be hoped for from the Downing Street summit next month, perhaps, is a renewal of November's pledge not to increase the level of protectionism prevailing in the world today - and perhaps persuade the US to conclude its knife-edge bilateral trade treaties with nations such as South Korea and Colombia. All concerned will commit once again to carry on with the Doha talks, though these seem further away from consummation than ever. The WTO has promised a "name and shame" paper cataloguing crimes against free trade by G20 members. [Sean O'Grady, The Independent]

Manuel Pushes For A More 'Multilateral' Fund.

The reform of the International Monetary Fund (IMF) is an essential part of the battle to stem a drift towards nationalism and protectionism, South African Finance Minister Trevor Manuel has told the FT.

At the G20 finance ministers' meeting, South Africa will call for developing countries to be given greater weight in the governance of the IMF, but Manuel also called for the creation of a new executive body in which ministers and central bankers would have greater powers, a change he calls 'pivotal'.

South Africa and Australia are chairing a G20 committee on the IMF. Manuel is separately chairing a panel of experts looking at ways to make the institution a more effective global financial watchdog.

In a related story, Xinhua reports that Chinese Premier Wen Jiabao called on Friday for reforms of the internal governance structure of the IMF to fend off financing and investment risks, balance rights and obligations and pay more attention to the interests of developing countries.