She said more must be done by the world's two biggest economies to resolve their disputes and that all nations must try to overhaul their trade rules.
US Treasury Secretary Steven Mnuchin said at the IMF's spring meetings in April that the United States opposes increasing overall funding and shareholding quotas. It also forecasts an increase of only 2.1% next year, even as it expects global economic growth to rebound 3.4% in 2020.
The Washington-based lender, founded in the wake of World War II, has traditionally been controlled by the United States and western European countries.
Georgieva, a Bulgarian economist who had held the No. 2 job at the World Bank, was tapped last month to take over at the International Monetary Fund, succeeding Christine Lagarde.
World Bank President David Malpass said the slowdown in global growth was hurting efforts to help the 700 million people around the world living in extreme poverty, especially in nations trying to cope with a flood of refugees from regional conflicts.
The IMF and World Bank meetings were expected to be dominated by the trade disputes triggered by the Trump administration's get-tough policies aimed at lowering America's huge trade deficits and boosting USA manufacturing jobs.
In addition to the battle between the United States and China, higher US tariffs went into effect Friday on $7.5 billion in European goods coming into the United States in a dispute involving airplane subsidies.
"Trade tensions are now taking a toll on business confidence and investment", she said in her opening address to the finance officials.
The IMF's managing director, Kristalina Georgieva, cited the fallout from a variety of factors: the U.S.
The IMF predicts USA growth will slow to 2.4% this year from 2.9% in 2018. "Our meetings this week are an opportunity for all parties to make progress in moving from a trade truce to a trade peace".
"Last but not the least to fight corruption and to make sure that the riches of Nigeria serves Nigerians inside the country and in that regard, as you know a year ago the fund adopted very strong policies on anti-corruption and we worked with governments to build their capacity to make serving citizens of the country with the money of the country is possible". She noted that global commerce has been transformed in recent years by advances in technology, and those advances need to be acknowledged in new trade rules.
The Trump administration is defending its get-tough approach to trade against widespread attacks from America's trading partners while at the same time arguing that many countries must increase government spending to boost global growth.
Although it will take several weeks to write up the terms of the deal, the full scope of which has not yet been announced, Trump said that he and his Chinese counterpart, Xi Jinping, would sign the agreement during the November 16-17 Asia-Pacific Economic Cooperation summit in Chile.
Tensions seemed to ease October 11, when a new round of trade negotiations saw the US agree to suspend a planned hike in tariffs on $250 billion of Chinese goods that had been set to kick on October 15.