Ministero dell'Economia e delle Finanze

Washington, 24 April 2025 – Long and cordial talks in Washington between Italian Minister Giancarlo Giorgetti and US Treasury Secretary Scott Bessent on the sidelines of the International Monetary Fund and the World Bank’s Spring Meetings. The constructive meeting focused on rates, trade, digital taxation and defence. “There is openness on both the US side and on our side to discuss not only tariffs, but digital taxation and defence”, said Giorgetti when meeting journalists. “Perhaps it is time, as some are calling for, for a ‘big deal’ and to consider all aspects under discussion and not just tariffs”.

“It went very well”, added the Italian Minister about the meeting with the rating agencies. “In the first meetings we had three years ago we still had to prove something, now we have proved it. So much so that there are no more questions about the sustainability of our debt and Italian public finance. They take them for granted, and that’s a big step forward.”

On the sidelines of the IMF proceedings, Italian Minister Giorgetti then met with Canadian Minister Philippe Champagne with whom, in a very informal and friendly atmosphere, current affairs and economic issues were discussed, also in view of the upcoming G7 meeting in Canada. During his speech at the G7 finance session in Washington on Wednesday evening, Italian Minister Giorgetti emphasised the importance of “free, fair international trade embedded in a system of rules that promotes a level playing field between companies in the markets”. For the Italian Minister, the G7 “should work on common issues such as Chinese overcapacity”. With regard to tariffs, he emphasised the need to “act together to meet the challenges, calling for an open and frank debate to reduce the uncertainty of this period”.

Italian Minister Giorgetti also held talks with Bank of America CEO Brian Moynihan, EBRD President Odile Renaud-Basso, Argentine Minister of Economy Luis Caputo, Swiss Confederation President Karin Keller Sutter, and Saudi Minister of Finance Mohammed Al-Jadaan.

In Washington, he also met with Italian officials from the Monetary Fund and the World Bank.

 Photogallery