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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Ukraine and the International Monetary Fund (IMF) held talks on Thursday to prepare a new programme providing expanded financing for 2026–2029, aimed at supporting the country’s economy and reconstruction efforts amid ongoing Russian attacks.
The International Monetary Fund's (IMF) executive board approved Pakistan’s latest loan review on Monday, unlocking a critical $1.2 billion in financial support, ensuring that the country’s ongoing IMF program remains on track.
The International Monetary Fund (IMF) is reviewing Sri Lanka’s request for approximately $200 million in emergency financing after Cyclone Ditwah caused widespread destruction across the island nation.
The European Commission has proposed a $105B support package for Ukraine for 2026–2027, combining joint European Union borrowing with proceeds from frozen Russian assets held in the bloc.
More than 100 vehicles were involved in a massive pileup on Interstate 96 in western Michigan on Monday (19 January), forcing the highway to shut in both directions amid severe winter weather.
U.S. President Donald Trump said he would impose a 200% tariff on French wines and champagnes after France declined to join his proposed Board of Peace on Gaza initiative.
Syria's Interior Ministry said on Tuesday that about 120 Islamic State detainees escaped from Shaddadi prison, after the Kurdish website Rudaw reported that a spokesperson for the Kurdish-led Syrian Democratic Forces, Farhad Shami, said around 1,500 Islamic State members had escaped.
Syrian government troops tightened their grip across a swathe of northern and eastern territory on Monday after it was abruptly abandoned by Kurdish forces in a dramatic shift that has consolidated President Ahmed al-Sharaa's rule.
Several locally-developed instant messaging applications were reportedly restored in Iran on Tuesday (20 January), partially easing communications restrictions imposed after recent unrest.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boosting Hong Kong’s role as an international gold trading hub, Financial Secretary Paul Chan said.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
The UK economy grew more strongly than expected in November, according to official figures, offering signs of resilience after months of weak performance.
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