News about annual meetings

IMF and World Bank meetings last week offered developing countries no new answers to the challenges posed by the Middle East war, the war in Ukraine, rising debt payments and a potential AI bubble. IMF chief Kristalina Georgieva said advanced economies were the worst offenders on budget imbalances, while average debt service payments in developing countries had more than doubled over a decade to 14% of government revenue. Experts said the institutions were poorly prepared for this new phase, and Georgieva warned people not to trust those claiming to have AI answers. The World Bank said developing-country growth had slowed to around 3.6% from 4.4%, and repeated shocks made outlooks worse than before. Floods in September caused almost $200 million in damage to Thailand's industrial sector, a reminder of the challenges facing developing economies.

The United Arab Emirates has concluded its participation in the 2026 Annual Meetings of the IMF and World Bank Group, held in Bangkok from 12 to 18 October, with a delegation led by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini. The delegation took part in ministerial sessions, the G20 finance meeting and the IMFC plenary, met IMF Managing Director Kristalina Georgieva and World Bank Group President Ajay Banga, and held bilateral talks with several international financial institutions. The UAE stressed the need for broader strategic cooperation and modern financing tools to sustain development finance. Al Hussaini said sustained collective action is needed to safeguard global financial stability, energy security, supply chain stability and technological transformation.

The UAE concluded its participation in the 2026 Annual Meetings of the IMF and World Bank Group, held in Bangkok from 12 to 18 October, with a Ministry of Finance delegation led by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini. The delegation attended ministerial sessions, including the G20 Finance Ministers and Central Bank Governors meeting, a MENAP meeting with IMF Managing Director Kristalina Georgieva, and a meeting of Arab governors with World Bank President Ajay Banga. Al Hussaini said the UAE aims to safeguard global financial stability, energy security, supply chain stability, and development financing. The UAE also hosted the 2026 UAE Banks Reception in Bangkok and held bilateral talks with counterparts from New Zealand, Switzerland, the Netherlands, and China, as well as the EBRD president.

The UAE has concluded its active participation in the 2026 Annual Meetings of the IMF and World Bank Group, held in Bangkok from 12 to 18 October. The Ministry of Finance delegation, led by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini, joined ministerial sessions, the G20 and IMFC meetings, and bilateral talks with international institutions, including the EBRD. Al Hussaini said the UAE aims to deepen multilateral cooperation and use modern financing tools to support development, stressing energy security, supply chain stability and easing geopolitical tensions. The delegation also hosted the 2026 UAE Banks Reception on the sidelines.

Saudi Central Bank (SAMA) Governor Ayman bin Mohammed Al-Sayari said the Saudi economy remains resilient amid ongoing Middle East conflict, supported by sound policy frameworks, substantial financial reserves and rapid, coordinated institutional response capacity. He said the banking system has strong capital and liquidity levels, backed by proactive prudential policies. Speaking to the International Monetary and Financial Committee at the IMF and World Bank annual meetings in Thailand, he noted that the global economy has shown better-than-expected resilience, though geopolitical conflicts, high uncertainty and debt, and limited policy room persist, and medium-term growth remains weak. He stressed price stability, rebuilding fiscal buffers, maintaining effective investment and targeting support to the neediest households, and welcomed the one-year extension of Saudi Arabia’s chairmanship of the committee. He also highlighted Vision 2030’s role in diversifying the non-oil economy, expanding private-sector participation and developing human capital and infrastructure.

Policymakers at the IMF and World Bank Annual Meetings in Bangkok said the global economy’s resilience is no longer enough, as wars, energy and trade disruptions, high public debt and rising borrowing costs overlap. IMF Managing Director Kristalina Georgieva described the outlook as a balance between “optimism and concern” and warned that relying on a single growth engine, such as artificial intelligence investment, leaves economies more vulnerable. Debt-service payments in low-income countries rose from 8 percent to 14 percent of government revenue, and the IMF urged governments to cut deficits, shift from broad cash transfers and subsidies to targeted aid, and protect central bank independence. Rising bond yields in advanced economies are also lifting borrowing costs worldwide. Middle East tensions have pushed up energy and transport costs, straining energy-importing countries with limited fiscal space.

The UAE has concluded its active participation in the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG), held in Bangkok from 12 to 18 October. The Ministry of Finance delegation, led by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini, joined ministerial sessions, plenary meetings including the G20 Finance Ministers and Central Bank Governors Meeting, and bilateral talks with official delegations and international financial institutions, including the EBRD. Al Hussaini said the UAE aims to support global economic resilience through deeper multilateral cooperation, safeguarding financial stability, energy security, supply chains and technological transformation. The UAE also hosted the 2026 UAE Banks Reception in Bangkok to strengthen ties between national banks and their regional and international counterparts.

The UAE has signed an agreement to host the 2029 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Abu Dhabi, signed at the conclusion of the 2026 meetings in Bangkok, Thailand. Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Central Bank of the UAE Governor Khaled Mohamed Balama signed for the UAE, while WBG President Ajay Banga and IMF Managing Director Kristalina Georgieva signed for the two institutions. UAE officials said the selection reflects international confidence in the country's financial system and its ability to host major international events. The UAE said it will continue coordinating with both institutions to prepare for the 2029 meetings.

The UAE signed an agreement to host the 2029 Annual Meetings of the World Bank Group and IMF in Abu Dhabi, at the conclusion of the 2026 meetings in Bangkok. The deal was signed by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Central Bank of the UAE Governor Khaled Mohamed Balama, alongside World Bank President Ajay Banga and IMF Managing Director Kristalina Georgieva. Officials said the selection reflects international confidence in the UAE's financial system, infrastructure and ability to host major events, and will help promote financial stability, digital finance and sustainable development. The UAE pledged to coordinate with both institutions to prepare the facilities needed for the event.

The UAE has signed an agreement to host the 2029 Annual Meetings of the World Bank Group and the IMF in Abu Dhabi, at the close of the 2026 meetings in Bangkok. The deal was signed by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Central Bank of the UAE Governor Khaled Mohamed Balama, with World Bank President Ajay Banga and IMF Managing Director Kristalina Georgieva also signing. UAE officials said the selection reflects international confidence in the country's financial system and infrastructure, and reinforces its role as a global financial hub. The UAE pledged to coordinate with both institutions to prepare the event, which it says will focus on financial stability, development finance and digital innovation.

At the IMF and World Bank annual meetings in Bangkok, IMF Managing Director Kristalina Georgieva warned that AI-boosted cybercrime could undermine trust in the financial system, citing hackers who pushed French supermarket fridges to 50C and spoiled food. She worried that many people could end up keeping cash in shoeboxes under their beds. JPMorgan CEO Jamie Dimon said the bank would not allow AI agents to operate on customers' behalf, while agents that move deposits to chase the highest savings rates could trigger rapid withdrawals and raise unresolved questions about liability. Bank of England Governor Andrew Bailey said, “If we don't have trust in money, we don't operate as a society.” The column says financial policymakers are alarmed by the collision between fast-moving AI and a financial system that now extends well beyond heavily regulated banks.

IMF and World Bank meetings from October 12 to 18 offered no new answers for developing countries facing a spreading Middle East war, the war in Ukraine, rising debt payments and a potential AI bubble. IMF Managing Director Kristalina Georgieva said advanced economies were the worst offenders on budget imbalances, while average debt service in developing countries had more than doubled over a decade to 14% of government revenue. Several experts said the meetings lacked concrete guidance, and fiscal risks in advanced economies complicated support for developing nations. World Bank Deputy Chief Economist Ayhan Kose said growth in developing countries had slowed from 4.4% to about 3.6%, and the Bank is mobilising private capital, now three times 2022 levels, to help countries prepare for AI.

The UAE has signed an agreement to host the 2029 Annual Meetings of the World Bank Group and the IMF in Abu Dhabi, signed at the close of the 2026 Annual Meetings in Bangkok, Thailand. Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Central Bank of the UAE Governor Khaled Mohamed Balama signed for the UAE, while WBG President Ajay Banga and IMF Managing Director Kristalina Georgieva signed for the institutions. UAE officials said the selection reflects international confidence in the country's financial system, infrastructure and ability to host major events, and reinforces its role as a global financial hub. They pledged to coordinate with both institutions so the meetings deliver substantive outcomes on development finance, financial stability and digital innovation.

The UAE has signed an agreement to host the 2029 Annual Meetings of the World Bank Group and the International Monetary Fund in Abu Dhabi, concluding the 2026 meetings in Bangkok. Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Central Bank of the UAE Governor Khaled Mohamed Balama signed for the UAE, while World Bank Group President Ajay Banga and IMF Managing Director Kristalina Georgieva signed for the two institutions. Emirati officials said the selection reflects international confidence in the UAE's financial system, infrastructure and ability to host major events, and that the UAE will work with both institutions to prepare the meetings. The Central Bank said it will bring its expertise in financial stability, financial infrastructure and digital financial services to the global agenda.