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Global food inflation is expected to accelerate in the coming months and persist into 2027, as war-related shipping disruptions and El Nino drought squeeze cereal supplies. Rice prices in Indonesia have hit record highs, bread in Egypt has risen by a quarter, and sugar in India reached an all-time high. The World Bank found food prices in the September quarter outpaced headline inflation in 22% of the 150 countries it analysed, up from 14% previously. The FAO Food Price Index averaged 136 points in September, its highest reading since November 2022. Rising prices heighten the risk of social unrest and could prompt key exporters to impose export bans.

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.

Kristalina Georgieva, Managing Director of the IMF, expressed confidence that the UAE will deliver an exceptional hosting experience for the 2029 Annual Meetings of the World Bank Group and IMF in Abu Dhabi, citing its advanced infrastructure, strong economy and commitment to climate, water and social issues. Speaking at the signing ceremony in Bangkok, she said meetings held outside Washington always attract particular interest and that this year's meetings in Thailand had set new standards. Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini said the agreement turns the UAE leadership's vision into action and plans to integrate artificial intelligence into the meetings. World Bank Group President Ajay Banga looked forward to returning to Abu Dhabi after 26 years, while Central Bank of the UAE Governor Khaled Mohamed Balama said the event reinforces the country's role as a global financial hub.

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 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 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.

IMF and World Bank meetings in Bangkok offered no new answers for developing countries facing the Middle East war, the war in Ukraine, rising debt payments and a potential AI bubble. The institutions again urged shrinking fiscal deficits and accelerating reforms to attract private investment. IMF chief Kristalina Georgieva said advanced economies were the worst offenders for budget imbalances, and that developing countries' debt-servicing payments had more than doubled over a decade to 14% of government revenue. The World Bank said growth in developing economies had slowed to about 3.6% from 4.4%, while experts urged more inclusive growth. Nearly half the delegates at an IMF steering committee walked out when Russia's finance minister spoke.

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.

Pakistan is awaiting IMF Executive Board approval for about $1.2 billion in new financing: roughly $1 billion from its $7 billion Extended Fund Facility and $210 million from its $1.4 billion Resilience and Sustainability Facility, which would bring total disbursements under the two to about $5.7 billion. Real GDP grew 4% in the first three quarters of FY2026 (3.6% estimated for the full year), inflation eased to about 10.3% in September from its May peak, and reserves reached around $21 billion at end-September. Still, geopolitical tensions, volatile energy prices and tighter global financial conditions threaten the recovery, and Pakistan remains heavily reliant on external lenders, while the World Bank considers its growth model unsustainable. Pakistan will chair the Boards of Governors of the IMF and World Bank Group in 2027, the first time since 1953, a post with diplomatic weight but no control over lending decisions.

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.

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.

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 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.

Pakistan's Finance Minister Muhammad Aurangzeb acknowledged growing poverty after a World Bank report found Pakistan accounts for 48 percent of people below the $3-a-day line in the MENAAP region in 2024. Aurangzeb and an adviser described Pakistan's move from South Asia to MENAAP as administrative and statistical, but World Bank country data show national poverty rising from 22 percent in 2018-19 to 29 percent in 2024-25, affecting about 70 million people. The lender cited COVID-19, the 2022 floods, high inflation, currency depreciation, insufficient job creation and falling real wages. The government pointed to Rs838 billion ($3 billion) for the BISP cash program, January payment increases under Kafaalat, and fuel subsidies reaching about 10 million users, though Aurangzeb said growth and job creation are the structural solution. Pakistan's economy grew 3.7 percent in the fiscal year ending June 2026, and Aurangzeb expects about 4 percent growth this fiscal year.