Overview

• Managing Director Kristalina Georgieva said global growth is set to slow only slightly, with the IMF still penciling in roughly 3% expansion after mid‑year upgrades to 3.0% for 2025 and 3.1% for 2026.
• The IMF said the U.S. and other economies have held up thanks to adaptable businesses, supportive financial conditions, and import tariffs that proved less severe than first signaled.
• U.S. tariffs now amount to about a 17.5% trade‑weighted rate, down from 23% in April, and widespread retaliation has largely not materialized so far, the IMF noted.
• Georgieva warned that global public debt is on track to exceed 100% of GDP by 2029 and that stretched market valuations could amplify any abrupt shift in sentiment, with developing countries most exposed.
• Safe‑haven demand for gold has surged, with monetary gold exceeding 20% of official reserves; market reports said prices touched $4,000 an ounce for the first time on Wednesday.