The US president’s stop-start rollout of levies against top trading partners since his return to office in January has confused businesses and unnerved investors, sending market volatility to levels not seen since the Covid-19 pandemic.
Taking stock of this week’s World Bank and IMF Spring Meetings in Washington, at which US Treasury Secretary Scott Bessent represented the Trump administration, IMF Managing Director Kristalina Georgieva said the world’s finance ministers and central bank governors had recognised the importance of reducing uncertainties.
“Understandably, ministers and governors are concerned,” she told reporters at the IMF’s headquarters near the White House.
“But at the same time, they have also exhibited a remarkably constructive spirit in these meetings, coming together, showing willingness to take on the challenges facing the global economy.”
Georgieva said political leaders had recognised that the trade uncertainty was a moment “to put their own houses in order” by tackling delayed reforms, strengthening resilience, boosting productivity and improving growth prospects.
“We are still having quite a challenging time,” she said.
But “when people are in the same room, the abstract policies become more human,” she added. “And that makes the conversation different.” (AFP)
