IMFC chair says global economy resilient; delegates walk out on Russian official
SPY•The IMFC chair said the global economy was showing “remarkable resilience” but warned there was no room for complacency. Nearly half of delegates walked out during remarks by Russia’s finance minister, while members agreed to the chair’s statement.
1. Economic resilience and risks
Saudi Finance Minister Mohammed Al-Jadaan, who chairs the IMF’s steering committee, said the global economy was showing “remarkable resilience” amid wars, risks to energy and food security, high public debt and risks linked to artificial intelligence. He said there was no room for complacency and called for rebuilding fiscal buffers while protecting vulnerable populations and growth-enhancing investment.
2. Support and cooperation
The IMFC called for more support for countries facing short-term financing challenges caused by spillovers from wars and high energy prices. Al-Jadaan also said international cooperation remained critical to addressing excessive global imbalances and trade tensions.
3. Delegates walk out
Nearly half of delegates left the room during Russian Finance Minister Anton Siluanov’s remarks, Bundesbank President Joachim Nagel said. Ukraine’s central bank chief, Andriy Pyshnyi, called the walkout a “deep and emotional moment.” Al-Jadaan said all members ultimately agreed to the chair’s statement.
