Global finance leaders meet in Washington this week to address global growth, debt, and green energy amid uncertainties from conflicts, a slowing Chinese economy, and the potential impact of the U.S. election on trade and climate policies.
Global finance leaders will convene in Washington this week amid significant uncertainty driven by conflicts in the Middle East and Europe, a weakening Chinese economy, and concerns that the upcoming U.S. presidential election could spark new trade disputes and undermine international cooperation.
The annual meetings of the International Monetary Fund (IMF) and World Bank are set to bring together over 10,000 participants from finance ministries, central banks, and civil society groups to address challenges such as uneven global growth, managing debt crises, and financing the transition to green energy.
The key issue looming over the discussions is the potential impact of a U.S. presidential win by Republican candidate Donald Trump, which could disrupt the global economic landscape through significant new tariffs, increased U.S. borrowing, and reduced climate cooperation.
"The U.S. election, arguably the most critical issue for the global economy, is not officially on the agenda, but it's on everyone's mind," noted Josh Lipsky, a former IMF official now with the Atlantic Council's GeoEconomics Center.
Democratic candidate and current U.S. Vice President Kamala Harris is expected to continue the Biden administration’s focus on multilateral cooperation in areas like climate, taxes, and debt relief if she wins.
The meetings, which begin on Monday and gain momentum later in the week, are likely to be U.S. Treasury Secretary Janet Yellen's last, as she has indicated she will retire from public service at the end of President Joe Biden’s term in January.
Meanwhile, rising anti-China trade sentiment and industrial strategies from wealthy nations, highlighted by the Biden administration’s tariffs on Chinese electric vehicles, semiconductors, and solar products, are anticipated to be major discussion points during the sessions.
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The International Monetary Fund (IMF) announced on Friday that its executive board had approved a new two-year, $24 billion flexible credit line for Mexico, designed to serve as a safeguard against external risks.
The International Monetary Fund (IMF) is closely monitoring the aftermath of Hurricane Melissa, which caused widespread devastation across the Caribbean, particularly in Jamaica and Haiti.
Investors reacted positively to the victory of centrist candidate Rodrigo Paz in Bolivia’s presidential election as markets reopened on Monday, though many warned he faces a daunting task in repairing the country’s battered economy and may ultimately have to soften his opposition to IMF assistance.
The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan that would unlock $1.2 billion in funding once approved by the Fund’s Executive Board.
The Hayli Gubbi volcano in north-eastern Ethiopia erupted on Sunday for the first time in over 12,000 years, before halting on Monday, according to the Toulouse Volcanic Ash Advisory Center.
On Monday (24 November), the U.S. formally designated Venezuela’s “Cartel de los Soles” as a foreign terrorist organisation and imposed additional terrorism-related sanctions on its members, including President Nicolás Maduro and other senior officials.
U.S. President Donald Trump has told his advisers that he plans to speak directly with Venezuelan President Nicolas Maduro according to Axios, as Washington designated him as the head of a terrorist organisation on Monday. A claim Maduro denies.
Chinese President Xi Jinping has once again expressed strong support for Venezuelan President Nicolás Maduro, condemning foreign interference and criticising U.S. actions in the region.
South Korean President Lee Jae Myung met with Chinese Premier Li Qiang and Japan's Prime Minister Sanae Takaichi during last weekend's G20 summit in South Africa, Lee's office said on Monday.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
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