Asks how Iran war affects upcoming IMF/World Bank meetings.
David Westin
Chrystia Freeland
War pushed everything off agenda; central focus is global economy. Finance ministers/central bankers very concerned; potential crisis.
Cites participant saying 'I'm expletive deleted.'
Asks about global economy state with stagflation talk.
David Westin
Chrystia Freeland
Triple whammy: 1) Stagflation, 2) Fiscal capacity strained post-COVID + defense spending, 3) Leadership vacuum with G7 divided, G20 split.
Contrasts with 2008 G20 rally and COVID G7 action.
Questions future of multilateral institutions.
David Westin
Chrystia Freeland
US-led Bretton Woods institutions being wrecked by US itself.
Asks impact on developing world (Asia, Africa).
David Westin
Chrystia Freeland
Much worse in Asia/Africa: depend on fuel/fertilizer via Strait; seeing stagflation, governments slowing economies (work from home, no driving).
Asks about real food shortages from fertilizer/fuel issues.
David Westin
Chrystia Freeland
100%. Fertilizer/fuel price pass-through to food prices. UN negotiating deal for fertilizer passage like Black Sea deal.
Asks her goal if attending as finance minister.
David Westin
Chrystia Freeland
Work within G6; thank Jay Powell for leadership/integrity/courage.
Cites Macron, Carney, UK, EU, Germany, Italy, Spain stepping up.