Beyond existing economic challenges such as inflation, falling crude prices, and the global burden of conflicts, governments around the world are now faced with a new problem: tariffs. While many countries will be directly impacted by the United States’ trade policy position, others will feel the heat through the resulting global economic disruptions of what is now known as trade wars.
Organisations such as the International Monetary Fund (IMF) and the World Trade Organization (WTO) have warned of dire consequences, with global merchandise trade volumes projected to contract by at least 1 percent.
With “ships” not knowing “which ports to sail to”, Kristalina Georgieva, the managing director of the IMF, said rising global trade tensions, fuelled by eroding trust between nations, threaten economic growth.
These issues are expected to underscore conversations at the 2025 World Bank/IMF spring meetings as the Breton Woods organisations continue to find a path towards global economic stability.
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Slated to begin on Monday (today), the spring meetings serve as a crucial platform for governments to form partnerships that will strengthen their global positions while reassessing their policies in response to current issues.
For one week, policymakers, international organisations, and the private sector will take decisive and coordinated actions to build resilience amid numerous economic straits, including food and energy crises, poverty, global wars, climate change, and now tariffs.
With Nigeria now budget now significantly threatened by falling oil prices, the event would be an opportunity for the country’s minister of finance and central bank governor to engage with investors, seek new trade partners, while strengthening existing relationships.
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TheCable’s Desmond Okon is in Washington DC to provide updates on the decisions reached by global leaders and how they will shape Nigeria’s economy.
MONDAY, APRIL 21 | 2ND IMF-IOSCO CONFERENCE
The International Monetary Fund (IMF) and the International Organisation of Securities Commissions (IOSCO) will convene their second conference to explore some issues, such as the transformative role of artificial intelligence (AI) in capital markets and the ongoing shift from traditional investment vehicles to exchange-traded funds (ETFs).
The conference will open with opening remarks from Gita Gopinath, first deputy managing director of the IMF, and conclude with remarks by Jean-Paul Servais, Chair of IOSCO.
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Senior panellists from both industry and policy sectors will engage in discussions on key trends in AI and ETFs, focusing on implications for financial stability.
Additionally, a fireside chat will take place between Mark Uyeda, acting chair of the US SEC and Tobias Adrian from the IMF, providing valuable insights into regulatory perspectives within the US markets.
During the day, an analytical corner session will be held, featuring the introduction of an innovative “debt-at-risk” framework designed to analyse public debt risks.
The World Bank will hold its ‘Global Parliamentarian Forum Day’, and a side event on expanding energy access in Africa.
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TUESDAY, APRIL 22 | WORLD ECONOMIC OUTLOOK
A press briefing on the World Economic Outlook (WEO) will be on Tuesday, providing a comprehensive analysis of the global economic situation, including economic growth, inflation, and other key macroeconomic indicators.
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Additionally, the day will feature a press briefing on the Global Financial Stability Report, alongside a separate briefing by the G-24. There will also be an event revenue mobilisation in the medium term, gathering ministers to foster collaboration as countries continue to formulate and implement medium-term revenue strategies to strengthen their tax systems in the short and medium term.
The World Bank will hold the second part of its ‘Global Parliamentarian Forum Day’, and a knowledge café on ‘harnessing power and water for jobs and growth’
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WEDNESDAY, APRIL 23 | FISCAL MONITOR REPORT
The third day of the spring meetings will kick off with an IMF press briefing on the fiscal monitor.
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An event, tagged, ‘Monetary Policy and Financial Stability in Inflationary Times’, from the IMF will peer into the circumstances central banks may face trade-offs between price and financial stability and what they can do to navigate them.
Also, the World Bank will host a knowledge café session to showcase its innovative approach to debt-for-development swaps. The discussion will explore how countries can leverage the initiative, featuring a recent successful implementation in Côte d’Ivoire as a case study.
The World Bank will also hold another knowledge café on transforming health outcomes through healthy budgets. The event would explore the critical role of public financial management (PFM) in transforming health service delivery, fostering cross-sectoral collaboration, and enabling effective crisis response.
THURSDAY, APRIL 24 | IMF GLOBAL POLICY AGENDA
Georgieva will kick off the meetings with a press briefing on the IMF’s global policy agenda, identifying the policy challenges faced by member countries and how the fund can assist.
The World Bank will also host a knowledge café aimed at engaging participants in discussions on how capital markets can contribute to stronger business growth and job creation.
Later in the day, a press briefing by the G-20 will take place, followed by the launch of phase II of the data for decisions (D4D) fund — the IMF’s flagship multi-partner initiative aimed at delivering statistical training and technical support to developing countries, with a focus on low- and lower-middle-income nations, as well as those facing fragility and conflict.
Additionally, a seminar, titled, ‘Debate on the Global Economy: Growth and Resilience in an Uncertain World’ will be held as well as an event on ‘Driving Food Security and Jobs in Africa: The Transport Imperative’.
The G-20 will also speak to the press on their deliberations at the spring meetings.
FRIDAY, APRIL 25 | AFRICAN DEPARTMENT
The IMF’s African department will hold a press conference on the regional economic outlook for Sub-Saharan Africa, followed by a press briefing by the European department.
Another press conference will be held by the International Monetary and Financial Committee (IMFC).
Also, the World Bank will hold a knowledge café later in the day, titled, ‘Unveiling Who Owns What for Revenue Mobilisation and Financial Integrity’, which will explore the latest global trends in implementing beneficial ownership transparency (BOT).
SATURDAY, APRIL 26 | INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) DAY
The event will conclude with updates on the implementation of the IDA20 and preparations for IDA21.
