African economic growth will be slower than forecast due to President Donald Trump’s trade war and his freeze on US aid, the International Monetary Fund said, as it pledged to support countries in need.

Donald Trump's tariff plans have increased the risks to public finances, the International Monetary Fund said Wednesday, warning countries to get their spending plans under control and prepare for "sh

The head of the International Monetary Fund stood by the group’s contrarian view that the U.S. and the global economy aren’t on track for a recession, but stressed the toll of uncertainty and the need for swift resolution of trade disputes.

The International Monetary Fund said Asian central banks generally have room to lower interest rates to support domestic demand and offset the impact of the escalating global trade war, with the region in much stronger shape than before the Asian financial crisis.

The organization cut its 2025 forecast for the economy’s growth to 1.8% from 2.7% in January out of concern over Trump’s tariffs.

Bessent spoke to the Institute of International Finance as both the International Monetary Fund and World Bank held their spring meetings in Washington. On Monday, the IMF downgraded its forecast of U.S. economic growth to 1.8% this year, a reduction from the 2.7% it estimated as recently as January.

U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

The International Monetary Fund and the World Bank "must be made fit for purpose again," US Treasury Secretary Scott Bessent said Wednesday, arguing the institutions should be promoting economic growt