Jobs, trade tensions take spotlight at 2025 IMF/WBG Spring Meetings

The International Monetary Fund (IMF) and World Bank Group (WBG) will hold their Spring Meetings in 2025.

These meetings are scheduled for April 21–26 in Washington, D.C. The theme is “Jobs – The Path to Prosperity.” The focus will be on international cooperation for job creation.

The two institutions estimate that 1.2 billion young people in emerging economies will reach working age in the next decade. However, only about 420 million jobs will be available for them.

Global leaders, finance ministers, central bank governors, and experts will gather to discuss solutions to trade tariff tensions. They aim to shape the future of international cooperation.

This meeting also calls on global leaders to address economic challenges together. The goal is to build a more prosperous and sustainable future for everyone.

Ahead of the meetings, WBG President Ajay Banga highlighted workforce growth versus job availability. He warned that without opportunities, issues like fragility and illegal migration could worsen.

Banga urged developing countries to create systems that encourage private sector investment. This includes improving infrastructure and regulatory environments for job creation.

He announced plans to expand the Private Sector Investment Lab. This lab will focus on critical sectors like energy, infrastructure, agribusiness, healthcare, tourism, and manufacturing.

Banga emphasized the need for meaningful employment opportunities. He stated: “Jobs are the best way to drive a nail in the coffin of poverty.”

Regarding trade tensions, he mentioned ongoing dialogue with the US administration. “They’re asking the right questions,” he said about their discussions.

Banga called for efficient border processes and reduced trade costs. He believes these changes can boost trade volumes and support stable growth in developing economies.

IMF Managing Director Kristalina Georgieva noted that recent resilience is being tested by global trading system changes. She identified three consequences of current trade tensions: costly uncertainty, negative short-term growth impacts, and long-term productivity erosion due to protectionism.

Georgieva called for a reset towards lower tariff rates and fewer non-tariff barriers. She stressed cooperation is essential in a multipolar world.

She expressed confidence in the Spring Meetings as an important forum for dialogue at this crucial time.

“All countries can—and should—strengthen the global economy,” she said during her remarks.

Georgieva added that when pushed hard enough, previously impossible things become possible.

She concluded by calling for cool heads and clear vision: “We need a more resilient world economy.” Policies must allow private economic agents time to adjust effectively.