In the IMF and World Bank spring meetings – discussions on global economic challenges in the context of geopolitical fragmentation, US customs duties and ongoing Russian aggression against Ukraine
On 23-26 Minister of Finance Rimantas Šadžius will visit Washington to attend the International Monetary Fund (IMF) and World Bank (WB) spring meetings. The events will focus on the global economic outlook, the challenges posed by US customs policy, the importance of international cooperation and the continuity of financial support to Ukraine in the context of growing geopolitical tensions.
“The global economy is undergoing one turbulence after another – currently it is heavily affected by US foreign and customs policies, deepening geopolitical fragmentation. Meanwhile, Russia’s brutal aggression against Ukraine continues to threaten the stability of the economy not only in Ukraine or Europe, but also in the whole world. Against this background of challenges, the role of international financial institutions is particularly important, both in promoting international cooperation and in analysing the situation and providing targeted recommendations to help the global economy stay on track”, Minister of Finance stressed.
In Washington, the Minister will attend IMF and WB events, including the Nordic-Baltic Group meetings, IMF International Monetary and Financial Committee (IMFC) and WB Development Committee meetings. He will also meet the IMF and WB senior officials, representatives of international banks and ministers of finance from other countries. The meetings will discuss the global, European and Lithuanian economic situation, the role of international financial institutions in order to maintain the core principles of multilateral cooperation and thus to ensure the stability of global economy and financial sector. The need to continue mobilising support to Ukraine and to implement critical projects in the war-torn country will also be highlighted at the meetings.
The Minister at the meetings with the IMF representatives – including Deputy Managing Director Bo Li, Director of the European Department Alfred Kammer, representatives of the Fiscal Affairs Department, Head of the IMF Mission to Lithuania Kazuko Shirono – will discuss the economic outlook for Lithuania and Europe in the context of the U.S. foreign and customs policy and defence financing issues. Long-term solutions to increase resilience to external threats will also be discussed. These issues will also be the core for discussions with EU Ambassador to the US Jovita Neliupšiene and ministers of finance of the IMF Central, Eastern and Southeast Europe (CESEE) region and central bank governors.
The Ukraine’s round-table discussion will address Ukraine's economic and public finance situation, the implementation of reforms and the mobilisation of further support to Ukraine. These issues will also be the core in other Minister’s meetings with Vice President of the Europe and Central Asia Region at the World Bank Antonella Bassani, Deputy Director for Ukraine at the IMF's European Department Uma Ramakrishnan, the IMF Mission Leader to Ukraine Gavin Gray and Ukraine's representative at the IMF Vladyslav Rashovan. A meeting with the Minister of Finance of Ukraine Sergii Marchenko is also planned, during which Lithuania's on-going reconstruction projects in the country will also be discussed.
During his visit to Washington, D.C., the Minister will also have a meeting with Governor of the Council of Europe Development Bank (CEB) Carlo Monticelli, where he will discuss the CEB investments in Lithuania, possibilities to contribute to security and defence financing in the country and discuss key issues of support to Ukraine.
Last updated: 25-04-2025
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