IMFC chair says global economy resilient

Business Recorder reported, citing Reuters, that Saudi Finance Minister Mohammed Al-Jadaan, who chairs the IMF's International Monetary and Financial Committee, said the world economy has held up remarkably well. He pointed to wars, threats to energy and food supplies, heavy public debt and risks tied to fast-moving artificial intelligence, yet urged officials not to lower their guard. His comments came at the closing press conference of a week of IMF and World Bank annual meetings in Bangkok that drew more than 18,000 people.

Al-Jadaan said fiscal authorities should rebuild their buffers while shielding vulnerable groups and growth-enhancing spending, and that members wanted more support for countries hit by short-term financing strains. IMF Managing Director Kristalina Georgieva called the meetings productive but noted clear unease among members over widening divergence between economies. She added that many lower-income countries outside the AI value chain fear they are falling behind.

A walkout occurred when Russian Finance Minister Anton Siluanov addressed the group in Russian, and Bundesbank President Joachim Nagel said nearly 50% of delegates took part. Ukraine's central bank chief, Andriy Pyshnyi, said he had not expected so many officials to leave. The Bank of England confirmed that its governor, Andrew Bailey, was among those who walked out.