WASHINGTON (AP) — The Latest on global financial meetings in Washington (all times local):
White House adviser Ivanka Trump is offering herself as a global mentor to women in the business world.
President Donald Trump’s daughter is speaking at a conference in Washington that’s rolling out the World Bank’s Women Entrepreneurs Finance Initiative — a program she’s pushed the bank to introduce.
It’s raised $350 million, and hopes to turn that into $1 billion in financing for businesses owned by women. The initiative will make entrepreneurs available to offer advice.
Ivanka Trump — a business owner herself — is promising “to spend a lot of time offering any value that I can as a mentor.”
The Trump administration says the International Monetary Fund needs to be a more “forceful advocate” and push countries to follow economic policies that will promote better growth.
Treasury Secretary Steven Mnuchin says the U.S. wants to see the 189-nation IMF do a better job of ensuring that countries with big trade surpluses lower those surpluses. That’s seen as a way of boosting global growth.
President Donald Trump has singled out China for criticism about its trade surpluses. He’s suggested the Chinese are relying on unfair trade practices to help Chinese companies at the expense of American exporters.
Mnuchin tells the IMF — which is wrapping up its fall meetings in Washington — that it “must be a more forceful advocate for strong, sustainable and balanced growth.”
The leaders of the International Monetary Fund and World Bank are vowing to fight climate change, combat income inequality and push back against rising populist skepticism over free trade and international collaboration.
IMF Managing Director Christine Lagarde says, “We know from experience that international cooperation works — from reconstruction after World War II more than 70 years ago to fighting Ebola just a few years back.”
The IMF and World Bank wrap up three days of meetings Saturday. Finance ministers from the G-20 major economies concluded two days of talks Friday.
Lagarde says world leaders must take advantage of healthy growth to devise policies that make sure prosperity reaches those who are being left behind. She says excessive inequality “hinders growth, erodes trust and fuels political tensions.”