IMF and World Bank meetings begin in Bangkok with Kuwait's participation
Kuala Lumpur, October 12 (KUNA) -- The annual meetings of the International Monetary Fund (IMF) and the World Bank Group, in their 81st session, kicked off today in the Thai capital, Bangkok, 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 challenges such as slowing global growth, the debt crisis, energy price volatility, and the impact of artificial intelligence on the global economy.
The Secretary-General of the Gulf Cooperation Council (GCC) for Arab Gulf States, Jassem Al-Budawi, is participating in the meetings, which run until October 18. The Kuwaiti delegation is led by Minister of Finance Yaqoub Al-Rafai, accompanied by Hamad Al-Marzouq, President of the Kuwait Banks Association, and Bassel Al-Haroun, Governor of the Central Bank of Kuwait.
The Kuwaiti delegation also includes representatives from Kuwait Finance House, chaired by its Board Chairman Hamad Al-Marzouq; National Bank of Kuwait, chaired by its Vice Chairman and Group Chief Executive Officer Essam Al-Saqqa; Boubyan Bank, chaired by its Vice Chairman and Group CEO Adel Al-Majed; Bank AlJazira, chaired by its Board Chairman Sheikh Abdullah Al-Sabah; and the National Bank of Kuwait, chaired by its Group Deputy CEO Abdullah Al-Samit.
Lalida Perisvipatana, Deputy Spokesperson for the Thai Government, told the Thai news network TNN that the government aims to leverage the meetings to showcase the country’s economic capabilities, attract foreign investment in future industries, and expand cooperation with international financial institutions. This, she said, would 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 was inaugurated 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 events feature more than 25 activities and economic sessions, including 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.
The IMF recently published a book on Asia’s future, 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. (End) E.A.B./N.B.S.
