World · 2 hrs ago

IMF and World Bank meet in Bangkok amid energy and debt concerns

IMF and World Bank meet in Bangkok amid energy and debt concerns

Finance officials from around the world are meeting in Bangkok, Thailand, for the annual meetings of the International Monetary Fund and World Bank.

The meetings run from October 12 to 18 and are being held outside Washington for the first time in three years.

The talks come as the war involving the United States, Israel and Iran disrupts energy supplies and raises concerns about inflation.

The World Bank says the global economy has held up better than feared, but higher fuel and fertilizer costs and possible severe El Niño weather could add pressure.

The IMF has also warned that global public debt is at its highest level since World War II and could exceed the size of the world economy before 2030.

High borrowing costs and rising food and energy prices leave developing and low-income countries especially exposed.

The World Bank has not lowered its global growth forecast, but says it is monitoring developments.

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