The uncertainty in trade policy, and in policy generally right now, is a big drag on global activity," says IMF's chief economist Pierre-Olivier Gourinchas
International Monetary Fund (IMF) Chief Economist Pierre-Olivier Gourinchas speaks on the "World Economic Outlook" during the IMF/World Bank Group Spring Meetings in Washington, DC, on April 22, 2025. Image: Jim Watson / AFP
Policymakers should find a way to reduce the uncertainty over trade policy kicked up by Donald Trump's tariff plans in order to boost global growth, the International Monetary Fund's chief economist said in an interview.
"The uncertainty in trade policy, and in policy generally right now, is a big drag on global activity," Pierre-Olivier Gourinchas told AFP ahead of Tuesday's publication of the IMF World Economic Outlook report.
"And the sooner we can lift it, the better off everyone will be," he said, adding: "Bringing back stability, clarity, predictability to the trading system is the first order of business."
In the updated outlook published as global financial leaders gather for the World Bank and IMF Spring Meetings in Washington, the Fund sees global growth cooling to 2.8 percent this year, a 0.5 percentage-point cut from its last forecast in January.
Global growth is then forecast to hit 3.0 percent in 2026, a 0.3 percentage-point markdown from January.