Global finance chiefs will gather in Washington this week amid intense uncertainty over wars in the Middle East and Europe, a flagging Chinese economy and...
WASHINGTON - Global finance chiefs will gather in Washington this week amid intense uncertainty over wars in the Middle East and Europe, a flagging Chinese economy and worries that a coin-toss U.S. presidential election could ignite new trade battles and erode multilateral cooperation .
"Arguably the most important issue for the global economy - the outcome of the U.S. election - is not on the official agenda this week, but it's on everyone's mind," said Josh Lipsky, a former IMF official who now heads the Atlantic Council's GeoEconomics Center. The meetings, which start on Monday and get into full swing later in the week, will likely be the last for U.S. Treasury Secretary Janet Yellen, who spearheaded much of the Biden administration's multilateral economic and climate efforts. Yellen has said she is "probably done" with public service at the end of President Joe Biden's term in office in January.
Last year's IMF and World Bank annual meetings got underway in Morocco as the Palestinian militant group Hamas attacked Israel, killing more than 1,200 people and unleashing conflicts with a death toll of more than 40,000 Gazans, according to Palestinian health authorities. Support for Ukraine also will be a major topic at the meetings, as the G7 wealthy democracies aim to reach a political agreement by the end of October for a $50 billion loan for the Eastern European country backed by frozen Russian sovereign assets. The loan in part is seen as a financial bulwark against a Trump victory next month, as the former U.S. president has threatened to "get out of Ukraine.
"The world is the world right now. And rather than use the meetings to go over what we already seem to know - which is to admire the problem - I'd like to take the annual meetings to doing something about what we can do as institutions," Banga told reporters last week.Himesh Patel, Lolly Adefope and Jessica Hynes are just some of the top names in Armando Iannucci’s The Franchise. Plus: Bernardine Evaristo’s tale of forbidden love.
Joe Biden International Monetary Fund Multilateral Cooperation Presidential Election Kristalina Georgieva Election Victory International Economic System IMF Official Donald Trump Janet Yellen Global Economy Annual Meetings
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BRICS to build ‘New World Order’: Russia calls for alternative to IMF and World BankThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
US Treasury calls for new IMF, World Bank steps on liquidity pressuresThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
U.S. presidential election looms over IMF and World Bank annual meetingsGlobal finance leaders face a major uncertainty as they meet in Washington next week: Who will win the U.S. presidential election and shape the policies of the world’s biggest economy?
Read more »
IMF says global public debt to top $100 trillion, growth may accelerateThe world's total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment...
Read more »
IMF Urges Global Finance Chiefs to Tighten Belts Amid Soaring DebtThe International Monetary Fund (IMF) has called on global finance ministers and central bankers to address rising public debt levels as they gather in Washington for their annual meetings. The IMF warns that global debt is set to reach $100 trillion this year, driven by China and the US, posing a risk to economic growth.
Read more »
China's central bank cuts bank reserve rates, pledges other moves to help the economyBEIJING (AP) — The Chinese central bank announced Tuesday a slew of measures aimed at reviving the sluggish economy by tackling a downturn in the property...
Read more »