News about Bangkok

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.