The world’s top central bankers and finance ministers have descended to Washington DC for the semi-annual World Bank meetings.

Among the issues to be discussed are global trade in the era of President Donald Trump’s tariffs, and economic growth.

The BBC’s Michelle Fleury looks at what to expect from the gathering.

Sign up here.

A delicate truce crafted by Washington and Beijing over the past five months brought tariffs down from triple-digit levels and prompted upgrades to the IMF’s global growth outlook. Plans for Trump to meet with Chinese President Xi Jinping later this month fueled hopes for a further thaw.

But that optimism was shattered on Friday as Trump threatened to cancel the meeting and impose a “massive increase” in tariffs on Chinese goods, along with other countermeasures.

The IMF and World Bank meetings will bring more than 10,000 people to Washington, including finance ministers and central bank governors from more than 190 countries.

Martin Muehleisen, a former IMF strategy chief who is now with the Atlantic Council, said Trump’s threats may be posturing for negotiating leverage, but said they will inject volatility into the week’s proceedings.

“Let’s hope that sanity prevails. If Trump goes back to 100% tariffs on Chinese goods, there’s going to be a lot of pain in the markets for him,” Muehleisen said.

While China has some leverage over Trump due to its global dominance in rare earths, which are essential for tech manufacturing, Muehleisen said it is not in Beijing’s interest to plunge back into an environment of triple-digit tariffs.

It is unclear whether U.S. Treasury Secretary Scott Bessent, who has led U.S.-China trade talks, would meet with any Chinese officials this week in Washington. A Treasury spokesperson declined to comment on Bessent’s bilateral meetings schedule.

GROWTH FORECASTS HOLD UP

Prior to the escalation on Friday’s, IMF Managing Director Kristalina Georgieva had touted the global economy’s ability to withstand multiple shocks, from tariff costs and uncertainty to a slowing U.S. job market, rising debt levels and rapid shifts brought on by AI’s rapid adoption.

“What we are seeing is demonstrable resilience in the world,” Georgieva told Reuters in an interview. “But we are also saying it is a time of exceptional uncertainty, and downside risks are still dominating the forecast. So watch it, don’t get too comfortable.”

G7 FOCUS ON RUSSIA

Finance ministers from the Group of Seven industrial democracies are expected to meet on Wednesday to discuss efforts to step up sanctions pressure on Russia that is aimed at ending Moscow’s war against Ukraine.

A British government source said that finance minister Rachel Reeves wanted to ensure joint action with G7 and European Union countries to cut Russia’s energy revenues and access to overseas assets that comply with international law.

Among these options that G7 ministers will discuss is a European Union plan to use Russian frozen sovereign assets to back a loan of 140 billion euros ($162 billion) to Ukraine.

BESSENT’S AGENDA FOR INSTITUTIONS

The U.S. footprint at the meetings will be large, extending from tariff discussions to Bessent’s calls for the IMF and World Bank to pull back from climate and gender issues to focus on their core missions of financial stability and development.

But Muehleisen, the former IMF official, said the Fund risks being pushed by its largest shareholder to enforce Trump’s geopolitical goals – ratcheting up pressure on China and potentially extending more aid to U.S. allies like Argentina without adequate reforms.

“Is it really still a global, multilateral organization, or is it becoming a bit more of an appendage of the U.S. Treasury?” he said. “This will be an interesting debate.”

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The National Zoo’s annual event, Boo at the Zoo, has a new meaning this year.

It took until day 11 of the federal government shutdown before the Smithsonian museums and the National Zoo in D.C. had to shut their doors and gates to the public for the last time.

They both were using last year’s funds to stay open during the shutdown.

The line to pull into the parking lot of the National Zoo was backed up on Connecticut Avenue on Saturday, as both tourists and locals attempted to get one last peak at their favorite animals.

Eight-year-old Molly was posing by the massive letters spelling out zoo while her mother took pictures.

“I saw pandas, I saw the sloth bear, and I went into the big ape house,” said Molly. “My mom said we can get ice cream.”

Molly and her mother Bettina were visiting from Palm Beach, Florida, and went to between four and five different Smithsonian museums since they arrived on Wednesday.

“I think that we’ll see a resolution soon, I hope, and in the meantime, I do hope that all the furloughed workers see their back pay,” said Bettina.

A lot of locals look at the zoo and the Smithsonian with pride when they show out-of-town guests their home city.

One of those is Vanessa Furtado, who along with her husband and son, brought her parents, who are visiting from Chicago, to the zoo.

“The fact that everything is free for people to come and see, is a big draw for folks,” said Furtado. “Big bummer when it’s shut down.”

Furtado was asked if she had a message for those in Congress.

“Come to the table and start talking to each other, hardworking government employees who are doing their jobs not getting paid. So, let’s end the shenanigans,” said Furtado.

Get breaking news and daily headlines delivered to your email inbox by signing up here.

© 2025 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.