In Washington, D.C., on October 24 and 25, the Fiftieth Meeting of the International Monetary and Financial Committee (IMFC) convened to discuss global macroeconomic challenges. Participants focused on the financial impacts of ongoing conflicts involving countries such as Russia, Ukraine, Israel, Gaza, and Lebanon. IMFC members emphasized that all nations should adhere to the UN Charter's Purposes and Principles but acknowledged that the IMFC is not intended to resolve geopolitical issues.
The committee agreed on key policy priorities for securing a soft economic landing and moving away from a low growth-high debt trajectory. They expressed support for the International Monetary Fund's (IMF) efforts to improve its surveillance capabilities, lending tools, and capacity development while becoming more representative. The members reiterated their commitment to multilateral cooperation for promoting global prosperity.
Mohammed Aljadaan, Saudi Arabia's Minister of Finance, chaired the meeting. Kristalina Georgieva participated as Managing Director alongside various finance ministers and central bank governors from around the world.
The list of attendees included Ayman Alsayari from Saudi Arabia, Mohammed bin Hadi Al Hussaini from the United Arab Emirates, Antoine Armand from France, Luis Caputo from Argentina, Jim Chalmers from Australia, Carlos Cuerpo from Spain, Chrystia Freeland from Canada, Giancarlo Giorgetti from Italy, Fernando Haddad from Brazil among others.
Observers at the meeting included Agustín Carstens of BIS; Christine Lagarde of ECB; Paolo Gentiloni of EC; Klaas Knot of FSB; Richard Samans of ILO; Mathias Cormann of OECD; Mohannad Alsuwaidan representing OPEC; Ahunna Eziakonwa with UNDP; Penelope Hawkins with UNCTAD; Ajay Banga of The World Bank Group; Ngozi Okonjo-Iweala with WTO.