Minister of Finance Gilles Roth recently attended the World Bank and International Monetary Fund (IMF) Spring Meetings in Washington DC, an annual gathering of global finance leaders to address pressing economic challenges.
In remarks to our colleagues from RTL Radio, Roth described the current geo-economic climate as “tense” but noted widespread support for multilateralism among attending nations. Key discussion points included calls for patience amid rising trade tensions fuelled by tariff implementations, with many nations condemning trade war tactics. Roth highlighted a “broad consensus” on pursuing global economic growth, emphasising that such growth would benefit both developed economies and social cohesion worldwide. He particularly underscored the urgent need to strengthen Africa’s economic position through job creation initiatives.
Roth held bilateral talks with several counterparts, beginning with Botswana, where Luxembourg signed a financial cooperation agreement. The minister noted Botswana’s status as a stable, diamond-exporting economy and framed the partnership as part of Luxembourg’s shift from traditional aid to mutually beneficial economic ties.
Discussions with Thailand and South Korea were described as “positive”, with both sets of talks expected to create new opportunities for Luxembourg’s financial sector.
Separately, negotiations advanced on a double taxation agreement with Ecuador, coinciding with Luxembourg’s anticipated membership in the Latin American Development Bank later this year.
Roth praised EU finance ministers for presenting a united front in Washington and noted substantive progress toward establishing a proposed “Savings and Investments Union.”
The minister will next travel to Brazil, where his official engagements will continue through Tuesday.
