Overview

• Kristalina Georgieva said the world economy has withstood recent trade tensions so far, but warned the full impact of U.S. tariffs has yet to surface.
• She cautioned that margin compression in the U.S. could give way to price pass‑through and higher inflation, with displaced goods risking a second round of global tariff hikes.
• Calling uncertainty the new normal, she highlighted record gold prices and noted that monetary gold now exceeds one‑fifth of official global reserves.
• On Argentina, she praised elements of the program but stressed that its success hinges on winning public support, and she confirmed the IMF is working with the U.S. Treasury and Argentina’s economic team.
• Ahead of next week’s World Economic Outlook, she signaled only a slight global slowdown and reiterated policy priorities including fiscal consolidation, debt sustainability and pro‑growth reforms.