Policymakers around the globe should not react in haste to announcements by US President Donald Trump's administration and should be prepared to argue their case, World Bank president Ajay Banga told Reuters.
Trump's first week in office has seen a flurry of executive orders and policy plans, ranging from tariffs on Canada, Mexico and China to a review on all existing foreign assistance.
"My only advice to everyone is don't be in too much of a hurry to respond or judge," Banga told Reuters in an interview on the sidelines of the Mission 300 Africa Energy Summit in Tanzania's commercial capital Dar Es Salaam.
Policymakers should wait to see what policies are executed, Banga said.
"I have dealt with him (Trump) in the past. He is a very practical man, he understands numbers, he understands leverage and advantage. You have to go to him and explain to him what you bring."
The US and Colombia pulled back from the brink of a trade war on Sunday after the White House said its third-largest trading partner in Latin America had agreed to accept military aircraft carrying deported migrants.
Washington's draft measures, now on hold, had included imposing steep and rising tariffs on all Colombian imports, a travel ban and visa revocations on Colombian government officials.
The World Bank would feel the effects of travel restrictions.
"If their visas don't work, that's a problem," said Banga.
Asked about Friday's "stop work" order issued by the US state department on all existing and future foreign assistance, Banga said the Washington-based lender was "not yet" affected as it operated differently to bilateral aid.
Asked about return to office plans for World Bank staff, Banga said he had no plans to change the mandate beyond four days a week.
"I expect World Bank employees to be back four days a week," he said, adding there were no plans to increase this to five.
Trump has ordered federal workers to return to the office five days a week.
Reuters
World Bank president cautions against hasty reactions to Trump policies
Image: DENIS BALIBOUSE/Reuters
Policymakers around the globe should not react in haste to announcements by US President Donald Trump's administration and should be prepared to argue their case, World Bank president Ajay Banga told Reuters.
Trump's first week in office has seen a flurry of executive orders and policy plans, ranging from tariffs on Canada, Mexico and China to a review on all existing foreign assistance.
"My only advice to everyone is don't be in too much of a hurry to respond or judge," Banga told Reuters in an interview on the sidelines of the Mission 300 Africa Energy Summit in Tanzania's commercial capital Dar Es Salaam.
Policymakers should wait to see what policies are executed, Banga said.
"I have dealt with him (Trump) in the past. He is a very practical man, he understands numbers, he understands leverage and advantage. You have to go to him and explain to him what you bring."
The US and Colombia pulled back from the brink of a trade war on Sunday after the White House said its third-largest trading partner in Latin America had agreed to accept military aircraft carrying deported migrants.
Washington's draft measures, now on hold, had included imposing steep and rising tariffs on all Colombian imports, a travel ban and visa revocations on Colombian government officials.
The World Bank would feel the effects of travel restrictions.
"If their visas don't work, that's a problem," said Banga.
Asked about Friday's "stop work" order issued by the US state department on all existing and future foreign assistance, Banga said the Washington-based lender was "not yet" affected as it operated differently to bilateral aid.
Asked about return to office plans for World Bank staff, Banga said he had no plans to change the mandate beyond four days a week.
"I expect World Bank employees to be back four days a week," he said, adding there were no plans to increase this to five.
Trump has ordered federal workers to return to the office five days a week.
Reuters
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