IMF members call for more support amid war shocks, 'advanced intelligence' risks

Members of the International Monetary Fund have urged more support for countries facing short-term financing pressures from wars and high energy prices, according to Business Recorder, which relayed a Reuters report from a meeting in Bangkok. The statement issued by the committee chair, Saudi Finance Minister Mohammed Al-Jadaan, also said economic risks still lean toward the downside. The committee is the IMF's main steering body, and the fund has 191 member countries.

Investment and trade have received a lift from advanced intelligence technologies, the statement noted, yet the same tools were described as carrying risks. Higher bond yields across large economies were flagged as another concern, since they could spill over into heavily indebted nations and magnify macro-financial weaknesses. Members also agreed to back countries that pursue reforms and address debt problems, with particular focus on low-income, vulnerable middle-income and conflict-affected states.

The final text dropped any reference to artificial intelligence, after the United States had pressed fellow members to use the term super intelligence. The text also cited faster technological progress, shifting demographics, harsher weather and geoeconomic splits as making policy choices harder. Several members also committed support to the Poverty Reduction and Growth Trust, which assists poor and developing economies.