US presidential election raises stakes for IMF and World Bank meetings in Washington

Summary: Global finance leaders will meet in Washington next week amid uncertainty over the U.S. presidential election. The outcome could significantly influence policies at the International Monetary Fund and World Bank, with candidates Donald Trump and Kamala Harris holding differing views on trade and tariffs.

Trump has proposed high tariffs on imports, which economists warn could raise costs for American consumers. His previous administration favored isolationism and limited engagement with multilateral institutions. In contrast, Harris is expected to support international cooperation, though she has maintained some tariffs from the Trump era.

IMF Managing Director Kristalina Georgieva highlighted concerns over rising protectionism and its impact on global trade. World Bank President Ajay Banga noted the importance of understanding how each candidate's approach could differ, but did not speculate on future policies.

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