Marcos Antonio Capote (MBA’26) on Examining Global Economic Trends with World Leaders

This story is part of the Student Voices series, which provides a firsthand perspective of the student experience at Georgetown McDonough.

Here, Marcos Antonio Capote (MBA’26) reflects on his experience attending the International Monetary Fund (IMF) and the World Bank Group (WBG) annual meetings and how he was able to relate concepts from the classroom to discussions happening on the world stage.

Thanks to the support of Georgetown’s McDonough School of Business, I had the privilege of attending the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, D.C., in October. This event gathered leaders to address key topics shaping the stability and growth of the global economy. Coming from Venezuela, being present at the headquarters of these organizations in Washington, D.C. — where crucial decisions that impact worldwide economies are made — was nothing short of a dream come true. Additionally, I had the opportunity to greet World Bank President Ajay Banga and connect with Georgetown alumni who are actively shaping the future of economic development.

Here are some of the main insights I gained from the meetings:

Global Growth and Economic Projections

The IMF projects moderate global growth of 3.2% for 2024-2025, underscoring the global economy’s resilience, although with marked regional differences. Latin America, my region, is projected to grow around 2%, emphasizing the need for robust policies to strengthen investment and economic development.

Inflation and Monetary Policy

The IMF estimates that global inflation will continue to decline, aiming for 3.5% by 2025. However, elevated price levels remain a challenge, placing pressure on the cost of living and public budgets, particularly in emerging markets where fiscal space is limited. During the meetings, central banks were encouraged to maintain evidence-based monetary policies, adjust interest rates according to economic data, and avoid making decisions that could trigger recessions or further destabilize the global economy.

Debt Sustainability Strategies

Sovereign debt was a theme, especially concerning low- and middle-income countries. The importance of implementing the “Common Framework” for debt restructuring was highlighted to provide relief in a more predictable and coordinated manner. Through this initiative, the IMF aims to prevent unsustainable debt accumulation by promoting fiscal reforms that reinforce long-term financial stability and help developing countries create a more resilient economic environment.

Climate Change: Green Financing and Sustainable Transition

Discussions also centered on the impact of climate change on the global economy, particularly in vulnerable nations. The World Bank advocated for increased funding for green infrastructure and renewable energy projects, underscoring the need for a transition toward sustainable economies. This initiative aims to reduce the economic impact of environmental crises and foster green jobs, benefiting both the environment and social development in low- and middle-income countries.

Multilateral Cooperation for a Sustainable Economy

The annual meetings demonstrated the fundamental role of cooperation among nations and organizations in addressing today’s challenges. While inflation is beginning to stabilize, high debt levels and climate change demand coordinated, innovative solutions. Fiscal consolidation policies and debt relief programs, along with green financing, were highlighted as strategic areas for promoting inclusive and sustainable global growth, enabling countries to advance toward a more resilient and equitable economic future.

Attending the IMF and World Bank annual meetings provided invaluable insights into the complexities of global challenges. Professionally, the experience allowed me to engage with senior decision-makers and thought leaders, deepening my understanding of multilateral cooperation and policy-making. I often reflected on lessons from McDonough’s Structure of Global Industries course during the discussions, particularly its framework for analyzing key inter-relationships in the global economy — a course that has proven instrumental just months into my MBA journey. 

One highlight of the meetings was the “Creating Jobs for Young People” session, where World Bank President Ajay Banga, joined by presidents Michelle Bachelet and Tharman Shanmugaratnam, emphasized the urgent need for bold and innovative approaches to provide young people with jobs that foster dignity and purpose. This moment underscored the tangible impact of high-level collaboration on some of the most pressing global issues.

— Marcos Antonio Capote (MBA’26)