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.
Afghanistan’s economy showed growth in 2023-2024, but high poverty, unemployment, and weak demand persist. Inflation rose in December, while the trade deficit surged by 54% to $9 billion. Despite improved food exports, declines in textiles and coal exports signal ongoing economic challenges.
The World Bank Group has approved a new Country Partnership Framework for Azerbaijan, outlining strategic priorities to support the country's transition to a more competitive and sustainable economy, focusing on productivity, job creation, and climate resilience.
The World Bank confirms Kazakhstan's GDP growth forecast at 4.7% for 2025 and 3.5% for 2026, with oil production driving recovery.
Donor countries have pledged a record $100 billion three-year replenishment of the World Bank's fund for the poorest nations, providing a vital lifeline for their struggles against crushing debts, climate disasters, inflation and conflict.
As US-Russia peace talks advance, Ukrainian President Volodymyr Zelenskyy intensifies diplomatic efforts, holding discussions with multiple world leaders to rally support for Ukraine’s sovereignty and regional security.
Hamas has begun releasing six more hostages from Gaza on Saturday in exchange for hundreds of Palestinian prisoners, as Israel confirmed that a body handed over earlier was that of hostage Shiri Bibas.
Start your day informed with AnewZ Morning Brief: here are the top news stories for February 22nd, covering the latest developments you need to know.
A tragic crowd crush at New Delhi Railway Station on Saturday night left 18 dead and 10 injured as thousands of people, many heading to the Kumbh Mela festival, attempted to board delayed trains. The incident highlights the ongoing risks of overcrowding at public transportation hubs in India.
A Delta Air Lines regional jet flipped upside down upon landing at Toronto Pearson Airport on Monday, injuring 18 people. Officials are investigating whether strong winds and snow played a role in the incident.
Berlin, February 21, 2025 – German citizens will head to the polls on Sunday, February 23, for a snap general election after the coalition government collapsed late last year.
Russia has resumed wheat exports to Kazakhstan after lifting a ban that was in place until December 31, 2024.
The European Union will seek more gas from countries including the U.S. to replace Russian supplies, and expand renewable energy faster to cut its overall reliance on the fuel, the EU's energy commissioner has said.
BEIJING, Feb 20, 2025 – China is “doing its best” to push for talks with the European Union over tariffs imposed on Chinese-made electric vehicles, a commerce ministry spokesperson said on Thursday.
Berlin, February 20, 2025 – Mercedes-Benz has launched a fresh cost-cutting initiative aimed at reviving sales and margins, as the German carmaker forecasts a significant drop in earnings in 2025.
The Asian Development Bank (ADB) has approved a plan to scale up its operations by 50% over the next decade, leveraging its existing capital base to enhance bank’s impact across Asia and the Pacific.
As US-Russia peace talks advance, Ukrainian President Volodymyr Zelenskyy intensifies diplomatic efforts, holding discussions with multiple world leaders to rally support for Ukraine’s sovereignty and regional security.
Hamas has begun releasing six more hostages from Gaza on Saturday in exchange for hundreds of Palestinian prisoners, as Israel confirmed that a body handed over earlier was that of hostage Shiri Bibas.
Start your day informed with AnewZ Morning Brief: here are the top news stories for February 22nd, covering the latest developments you need to know.
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