IMF Annual Meetings, 17 October 2026 Lagarde described the euro-area economy as resilient but exposed to energy-driven downside risks, expects inflation to stay above target into the first half of 2027, and called for adoption of the digital euro regulation by the end of 2026. Introduction The global economy has proven surprisingly resilient in the face of high uncertainty. The conflict in the Middle East continues to expose energy markets to sharp swings. Trade tensions and protectionist measures are weighing on confidence...

IMF Blog post | Realizing tokenized markets’ potential depends on legal and regulatory clarity, greater interoperability, appropriate settlement assets, and financial stability safeguards to contain risks. The promise of tokenization is enticing: faster transactions, lower costs, broader access, and seamlessly operating markets. The reality, at least for now, is more complicated. Although growing rapidly, tokenized markets remain very small and fragmented. Yet investors are already showing interest in some of their key features, such as round-the-clock trading and fractional ownership...

Thank you, Graeme, and thank you SWIFT for the kind invitation. The theme of this year's conference is digital finance for AI-driven economies.  This is an important topic for the IMF because an efficient and secure payments system is critical to economic growth and stability. Clearly, as the theme suggests, the financial system, and payments in particular, will need to evolve. If AI is used as widely as proponents expect, a great deal of economic activity will be undertaken by AI...

The EU's growing network of trade agreements helps European businesses to access new export markets and creates a more predictable trade and investment environment, according to a report published today. The sixth Annual Report on the Implementation and Enforcement of EU Trade and Economic Security Policy, covering the year 2025, concludes that EU trade agreements play a crucial role in increasing the resilience and competitiveness of EU operators. Preferential trade works At the end of 2025, the EU had in...