IMF and World Bank Meetings Begin Today in Bangkok with Kuwait's Participation

The annual meetings of the International Monetary Fund (IMF) and the World Bank Group, marking their 81st session, kicked off today in Bangkok, the capital of Thailand, with the participation of Kuwait. The meetings are focused on economic, monetary, and fiscal policies, global development issues, and enhancing monetary and investment cooperation, alongside addressing challenges such as slowing global growth, the debt crisis, energy price volatility, and the impact of artificial intelligence on the global economy.

The meetings, which run until October 18, feature the participation of Jassem Al-Budawi, Secretary-General of the Gulf Cooperation Council (GCC), while the Kuwaiti delegation is led by Minister of Finance Yaqoub Al-Rafai. The delegation also includes Hamad Al-Marzouq, President of the Kuwait Banks Association, and Bassel Al-Haroun, Governor of the Central Bank of Kuwait.

Lalida Perisvipatana, Deputy Spokesperson for the Thai government, told Thai news network TNN that the government aims to leverage the meetings to showcase Thailand’s economic capabilities, attract foreign investment in future industries, and expand cooperation with international financial institutions. These efforts are intended to support long-term economic growth, boost revenues in the business and services sectors, and deliver tangible benefits to citizens.

Perisvipatana added that the Thai pavilion opened today as part of the meeting activities, highlighting the country’s capabilities and development plans in three key areas: digital infrastructure, addressing climate change risks, and healthcare systems linked to the longevity economy driven by demographic shifts and an aging population.

The first day’s agenda includes more than 25 activities and economic sessions, notably discussions on the use of low-cost artificial intelligence applications to create jobs and improve their quality, as well as panel discussions on the future of Asian economies. Youth representatives and civil society organizations are also participating in discussions on development policies.

Earlier, the IMF released a book on the future of Asia, covering demographic transitions, economic divisions, and changes in trade, technology, and energy patterns. Dialogue sessions will be held with leaders of the IMF and the World Bank to discuss economic and development policies.

The main plenary session of the annual meetings is scheduled for October 16, with participation from the heads of the IMF and the World Bank, as well as representatives of member countries. The International Monetary and Financial Committee will convene the following day.

Thailand is hosting these meetings for the second time, having previously hosted them in 1991.