IMF and World Bank meetings in Washington left global finance leaders with more questions than answers on the economic impact of U.S. tariffs. Discussions on trade and debt concerns highlighted growing uncertainty, as markets worry about the broader economic fallout.
During the IMF and World Bank Spring Meetings in Washington, global finance leaders sought clarity on the economic impacts of President Trump's tariffs, but left with more questions than answers. Many officials tried to meet with U.S. Treasury Secretary Scott Bessent, but were told to be patient, as the Trump administration remained uncertain on its trade demands. Despite receiving 18 proposals and engaging in discussions, no deals were finalized.
Participants, including Polish Finance Minister Andrzej Domanski, warned that the tariffs, especially on vehicles, steel, and aluminum would harm global economies, but the U.S. remained confident it was a short-term pain for long-term gain. Meanwhile, trade talks with Japan and South Korea yielded little resolution, with future discussions likely addressing currency policies.
The IMF lowered growth forecasts for most countries but did not predict recessions. IMF Managing Director Kristalina Georgieva expressed hope that trade negotiations would reduce the uncertainty hurting global business. However, several officials privately raised concerns about rising debt and the risk of a new debt crisis.
The IMF and World Bank also faced criticism for their lack of focus on development issues, with many emerging markets struggling due to the slowdown in trade and foreign investment caused by tariffs. World Bank economist Indermit Gill highlighted rising debt in developing nations.
While the U.S. supported the IMF and World Bank, there were concerns about the institutions' expansion into non-economic areas like climate change and gender equality. U.S. officials, including Bessent, emphasized the importance of refocusing the organizations on economic stability.
The week ended with financial markets and policymakers worried about the broader economic consequences, including a decline in trust in U.S. economic leadership, particularly after the recent selloff in U.S. Treasury debt and dollar-based assets.
The International Monetary Fund announced Tuesday it has reached a staff-level agreement to disburse around $120 million to El Salvador, following the first review of a $1.4 billion, 40-month extended fund facility program.
The International Monetary Fund (IMF) executive board approved a new $1.4 billion loan to Pakistan under its climate resilience fund, alongside the first review of its $7 billion program.
The IMF has lowered global and U.S. economic growth forecasts, citing Trump-era tariffs and rising uncertainty. Global growth is expected at 2.8% this year, while U.S. growth may slow to 1.8%, with heightened recession and inflation risks.
International financial leaders will discuss ways to restore aid to Syria during next week’s IMF and World Bank meetings.
rgentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
The Czech government has summoned China’s ambassador over a cyberattack it says targeted the foreign ministry’s communications during its 2022 EU presidency.
Italy's Prime Minister Giorgia Meloni will host French President Emmanuel Macron for talks in Rome on June 3, Meloni's office said on Wednesday.
Under the stars in Rome, Dior unveiled its cruise and haute couture 2026 collections with a dreamy runway show inspired by Italian cinema and theatre.
The International Labour Organization (ILO), headquartered in Geneva, has announced the loss of around 225 jobs due to significant funding cuts, mainly caused by the reduction of voluntary contributions from the United States under President Donald Trump.
AnewZ takes to the streets of Yerevan and Baku to ask a simple yet deeply complex question: How do you see peace between Armenia and Azerbaijan? In the first part of our special report, we hear the hopes, doubts, and scars still shaping people’s perspectives on both sides.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
On May 28, the inauguration ceremony of Lachin International Airport was held.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Kyiv faced a large-scale Russian drone and missile assault overnight, with explosions and gunfire echoing throughout the city, forcing residents to shelter in subway stations.
Top U.S. banks are quietly preparing to enter the crypto market through cautious pilot programs and partnerships, as regulators offer clearer signals. While enthusiasm grows, most lenders remain hesitant, seeking more clarity on rules before committing heavily.
Tesla's sales in Europe plunged 49% in April, even as electric car demand surged, signaling growing trouble for the U.S. EV giant in a competitive and shifting market.
The bank's latest trading update has helped reassure analysts at Morgan Stanley, despite a disappointing first-half result in February.
Asian stock markets remained steady on Monday as euro strengthened following an extension of U.S. tariff threats by President Donald Trump, giving temporary relief to investors amid ongoing trade uncertainties.
The Singapore dollar gains ground against the U.S. dollar, driven by growing momentum in the so-called “sell America” trend triggered by renewed tariff threats.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
The Czech government has summoned China’s ambassador over a cyberattack it says targeted the foreign ministry’s communications during its 2022 EU presidency.
Italy's Prime Minister Giorgia Meloni will host French President Emmanuel Macron for talks in Rome on June 3, Meloni's office said on Wednesday.
Under the stars in Rome, Dior unveiled its cruise and haute couture 2026 collections with a dreamy runway show inspired by Italian cinema and theatre.
The International Labour Organization (ILO), headquartered in Geneva, has announced the loss of around 225 jobs due to significant funding cuts, mainly caused by the reduction of voluntary contributions from the United States under President Donald Trump.
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