International Monetary Fund (IMF) forecasts to be released on Tuesday indicate that while the danger of a global recession has been avoided, growth will still be limited. German government sources noted that the global economy is expanding but not in a very dynamic way, with some regions experiencing no growth at all. They stressed the need for structural reforms to address this issue.
Finance Minister Christian Lindner and Bundesbank President Joachim Nagel have called for the IMF to focus on its core tasks in a joint op-ed published in Germany’s Handelsblatt. They emphasized that financing a development policy agenda should be left to institutions like the World Bank, rather than the IMF. The G20 finance ministers and central bank governors will hold discussions on climate financing and strengthening international development banks during their meeting in Washington DC amidst challenging circumstances, including the recent Iranian attack on Israel. However, there are no plans for a communique to be released following the meetings.
