Business · Economy · 19 hrs ago
Inflation concerns return as IMF and World Bank meetings begin in Bangkok
Finance ministers and central bankers are gathering in Bangkok, Thailand, for the annual meetings of the IMF and World Bank.
The meetings bring member countries together to discuss international monetary issues and economic trends.
They come as inflation risks rise again, including because the Iran war has disrupted energy supplies and pushed up oil prices.
Growing demand for electricity from artificial intelligence and high government borrowing are also adding pressure to costs and bond yields.
The IMF’s managing director, Kristalina Georgieva, said many countries should take a cautious but firm approach to inflation.
Some central banks have raised interest rates, and the Bank of England is expected to do so next month.
The meetings will also address concerns that low-income and conflict-affected countries face higher borrowing costs, slower growth and falling aid.
The World Bank has pledged up to $60 billion to help countries deal with the energy shock linked to the war.
Finance ministers and central bankers are due to meet in Bangkok for the IMF and World Bank annual meetings, amid renewed inflation concerns.
Energy supply disruptions linked to the Iran war have pushed Brent crude prices roughly 30 per cent above prewar levels.
Rising electricity demand from artificial intelligence and government borrowing have also added pressure to energy markets and bond yields.
IMF managing director Kristalina Georgieva said conditions supported a “prudently hawkish” approach by most countries.
The meetings will include discussions on international monetary issues, economic trends and regional programmes.
- Who
- Finance ministers and central bankers from IMF and World Bank member countries are due to attend.
- What
- The IMF and World Bank annual meetings are taking place amid renewed inflation concerns.
- When
- They are due to begin on Monday; the article does not state the date.
- Where
- Bangkok, Thailand.
- Why
- The meetings bring member countries together to discuss international monetary issues, economic trends and regional programmes.
This story does not have two clearly opposing sides.
the environment was right for most countries to adopt a “prudently hawkish” posture.
Some very tough political choices stare us in the face
We are living a perfect storm at this moment, especially for low-income countries
While this rise in inflation pales in comparison with what we saw in the immediate wake of the pandemic, it is large enough to be of real concern to central banks, many of whom hadn't wrestled inflation back to its target before this episode had begun.
The Iran war broke out, contributing to energy supply disruptions.
The US Federal Reserve raised interest rates by a quarter point and entered a new tightening cycle.
The 10-year US Treasury yield recorded a 24-year high.
The IMF and World Bank annual meetings are due to begin in Bangkok.
- Host city
- Bangkok, Thailand
- Brent crude
- Roughly 30 per cent above prewar levels
- US national debt
- $40 trillion
- US inflation
- Above 2 per cent for more than five years
- World Bank financing pledge
- Up to $60 billion to help countries absorb the energy shock from the Iran war
Sources
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