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.
The United States and Azerbaijan signed a strategic partnership in Baku on Tuesday (10 February) encompassing economic and security cooperation as Washington seeks to expand its influence in a region where Russia was once the main power broker.
Greek Prime Minister Kyriakos Mitsotakis arrived in Ankara on Wednesday, where Turkish President Recep Tayyip Erdoğan held an official welcoming ceremony at the Presidential Palace, marking the start of high-level talks between the two NATO allies.
A senior adviser to Iran’s Supreme Leader said on Tuesday that negotiations with the United States must remain focused on the nuclear issue and be grounded in realism, as Washington and Tehran prepare to resume talks mediated by Oman.
Russia has begun slowing down the Telegram messaging application, with Roskomnadzor, Russia’s federal communications regulator, set to implement partial restrictions from 10 February, following a wave of fines and administrative cases accusing the platform of hosting illegal content.
China became Brazil’s largest source of imported vehicles in January, overtaking long-time leader Argentina in a shift that underscores Beijing’s rapidly expanding influence in one of Latin America’s biggest auto markets.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
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