The Spring Meetings of the International Monetary Fund and the World Bank opened Monday in Washington, D.C., amid heightened global uncertainty and mounting concerns over economic protectionism, following the latest trade-related rhetoric from former U.S. President Donald Trump.Among the international delegations in attendance is Greece’s economic team, led by Kyriakos Pierrakakis, who is making his first appearance at the forum as the country’s Minister of National Economy and Finance. His schedule includes high-level meetings with representatives of the global investment community, as
Athens seeks to position itself as a stable and attractive investment destination in a region of growing geopolitical importance. Accompanying him are Deputy Minister Thanos Petralias, Prime Minister's
Chief Economic Advisor Michalis Argyrou, Public Debt Management Agency (PDMA) head Dimitris Tsakonas, and other senior economic officials.
The Greek delegation’s message to global markets is twofold: that the country remains committed to fiscal stability under the new European Stability Pact and that its economic outlook offers real potential for long-term growth.
While these annual meetings are typically technical in nature, this year’s discussions take place under far more volatile conditions. A new wave of tariff threats has reignited fears of a global trade war, the independence of the U.S. Federal Reserve is once again in question, and warnings of a possible recession are resurfacing. All of this is unfolding while major economies continue to rely on expansionary fiscal policies to recover from previous crises, with rising public debt and increased liquidity creating further uncertainty.
A key address is expected from IMF Managing Director Kristalina Georgieva, who has already hinted that the Fund’s new global economic forecast—due Tuesday—will include major revisions. While she reassured observers that a recession is not anticipated, she did note increasing anxiety in financial markets, warning that deepening trade tensions are shaking faith in the international economic order.
Europe, in particular, is watching closely.
Officials are worried that a resurgence of protectionist policies could drive inflation back up and force central banks to reverse course on interest rates. There is also concern that a U.S.-triggered financial shock could eventually ripple through European economies, reminiscent of the 2008 crisis.
