IMF Members Seek More Support for War-Hit Economies

Bangkok — Member countries of the International Monetary Fund have called for more support for countries facing short-term financing strains from war spillovers and high energy prices.

In a chairman’s statement after a meeting in Bangkok, the International Monetary and Financial Committee said risks to the global economy remain tilted to the downside. The statement, issued by chairman and Saudi Finance Minister Mohammed al-Jadaan, warned that escalating conflicts and trade tensions could further disrupt key trade routes, add to commodity price pressures, including for refined energy products, and worsen energy and food security.

IMF Managing Director Kristalina Georgieva said in her closing remarks that the AI boom is the main source of support for growth, but also a risk, because an economy that depends on one driver is standing on one leg. She said countries inside the AI value chain, and energy exporters spared from war, are pulling ahead, while energy importers outside it are falling further behind from an already vulnerable position.

She said members broadly agreed that central banks should stay focused on price stability, finance ministries should urgently repair public finances, and regulators should watch for rising leverage, non-bank financial risks, cyberattacks and fraud. She said Thai authorities led delegates toward a “Bangkok blueprint” for digital finance.

The fund secured more than $100 million in new capacity development commitments this week from 10 partners: France, Germany, Ireland, Italy, Japan, Kazakhstan, Luxembourg, the Netherlands, Spain and Switzerland, Georgieva said.