Daily Briefing 13 October 2026

The 2026 Annual Meetings of the International Monetary Fund and the World Bank Group

13 October 2026

Queen Sirikit National Convention Center, Bangkok

The second day of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group, 13 October 2026, at the Queen Sirikit National Convention Center, featured key discussions on multiple topics, including global and regional economic outlooks, resilience amid heightened risks and challenges, and reflections on the development journey of the Thai economy over more than three decades since Thailand first hosted the Annual Meetings in 1991. The key highlights are summarized below:

1. ASEAN Finance Ministers' Breakfast Meeting with World Bank Group President

Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, addressed the ASEAN Finance Ministers’ meeting with Mr. Ajay Banga, President of the World Bank Group—marking the first time such engagement has been organized at the Annual Meetings. He emphasized that while ASEAN holds immense economic potentials, a gap remains between its potentials and actual investments, as well as technology adoption—an issue that capital alone cannot resolve. Dr. Ekniti highlighted the World Bank Group’s vital role in helping ASEAN dismantle regulatory barriers to advance the ASEAN Power Grid, while expanding access to Artificial Intelligence (AI) for micro-enterprises and workers to boost labor productivity and create quality jobs. He also urged support for ASEAN’s climate adaptation through knowledge-sharing and dedicated projects. He underscored that the ASEAN–World Bank Group partnership must transcend financial lending to focus on building capacity that multiplies the impact of capital, positioning ASEAN as a model for interconnectivity of energy, technology, and finance that other developing regions can emulate.

2. IMF Managing Director’s Strategic Dialogue with the ASEAN Finance Ministers and Central Bank Governors (FMCBG)

Mr. Vitai Ratanakorn, Governor of the Bank of Thailand, and Dr. Vinit Visessuvanapoom, Director General of the Fiscal Policy Office—representing the Deputy Prime Minister and Minister of Finance—along with ASEAN Finance Ministers and Central Bank Governors, held discussions with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and senior IMF management. The dialogue centered on ASEAN's economic outlook, the transformative role of AI, and policy pathways to bolster resilience and sustainable growth. The IMF projected the ASEAN economy to expand by 4.9% in 2026 and 4.7% in 2027, propelled by the region’s integral position in global technology and AI supply chains. However, headwinds persist from global pressures, including inflation risks, elevated debt burdens, energy market volatility, and geopolitical uncertainties. The meeting underscored the urgency of upskilling the workforce for technological shifts and AI adoption, promoting regional trade in services, enhancing social safety nets, and strengthening domestic revenue mobilization to rebuild fiscal buffers.

ASEAN member states exchanged ideas of policy responses to varying economic challenges. Thailand highlighted leveraging AI to enhance productivity alongside the progressive liberalization of its services sector. Furthermore, Thailand and fellow member states reiterated commitments to fiscal discipline, investment promotion, infrastructure modernization, and worker protection. The IMF reaffirmed its readiness to deliver tailored policy advice, while deepening collaboration with the Chiang Mai Initiative Multilateralization (CMIM) and the ASEAN+3 Macroeconomic Research Office (AMRO) to safeguard long-term regional stability and resilience.

3. Thai Minister of Finance Flagship Event - Building Resilience in a Fragmented World

Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, took part in Thailand's flagship panel discussion titled “Building Resilience in a Fragmented World,” which addressed global economic fragmentation, cross-border cooperation, and risk mitigation. He noted that geopolitical fragmentation and macroeconomic volatility affect economies through trade channels, capital flows, and foreign direct investment (FDI). Consequently, middle-power economies must uphold the rules-based global trading system while diversifying risks and forging deeper economic partnerships.

Dr. Ekniti emphasized the necessity of converting investment flows into durable domestic capabilities by fostering high-quality employment, research and development (R&D), workforce upskilling, and integrating local enterprises into global supply chains so that gains are shared broadly. He urged ASEAN members to broaden collaboration in such areas as energy and food security, trade in services, digital cross-border payments, and technological development. He also called for stronger partnerships with external partners and international financial institutions to mobilize capital for tangible development projects. He pointed out that serving as an inter-regional economic bridge is sustainable only when cross-border cooperation yields measurable benefits for citizens and businesses while reinforcing structural resilience.

Dr. Ekniti also stressed that Thailand is positioned to serve as a “Trusted Connector,” bridging advanced and developing economies by building institutional trust and safeguarding the rules-based international order. He advocated for expanding intra-regional trade, integrating digital infrastructure, accelerating the ASEAN Power Grid, and broadening economic engagement beyond the region.

4. Thailand Special Seminar: Bangkok 1991–2026: Thailand’s Path to Resilient, Inclusive Growth Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, and Mr. Vitai Ratanakorn, Governor of the Bank of Thailand, participated in the high-level Thailand Special Seminar “Bangkok 1991–2026: Thailand’s Path to Resilient and Inclusive Growth.” The session reviewed Thailand’s economic trajectory since hosting the Annual Meetings in 1991, drawing structural lessons from past expansions to chart a roadmap for the nation's “Second Take-off.” While Thailand’s first economic take-off was driven by transitioning from agriculture to export-oriented manufacturing, global integration, and institutional modernization, this next phase requires translating international investment waves and technological breakthroughs into productivity gains, competitive advantages, deep supply chain integration, and inclusive economic opportunities. The government reaffirmed its dedication to easing regulatory burdens on the private sector and fostering an enabling environment to power this second wave of long-term sustainable growth.

5. WEO Launch & Press: Press Briefing: World Economic Outlook

The World Economic Outlook (WEO) report indicated that the global economy maintains resilience despite persistent external shocks, particularly from geopolitical tensions. However, recovery paths remain uneven across regions. Fuel-importing economies and nations slower to adapt to technological transitions and AI face heightened vulnerabilities. Risk buffers are being squeezed by volatile energy prices, AI investment uncertainties, and mounting fiscal strains across multiple countries. The IMF forecasts global growth at 3.1% in 2026, edging up to 3.4% in 2027. Global headline inflation is projected to reach 4.7% in 2026 due to elevated energy and food prices before easing to 4.1% in 2027. For Thailand, real GDP growth is projected at 2.1% for both 2026 and 2027.

6. GFSR Launch & Press: Press Briefing: Global Financial Stability Report

The Global Financial Stability Report anticipated that international financial markets have maintained baseline stability despite Middle East tensions, stubborn inflation, and policy uncertainty, cushioned by robust corporate performance and accelerated AI-driven capital expenditure. Nonetheless, systemic vulnerabilities remain elevated due to record sovereign debt levels and asset price volatility. Key risks include valuation corrections in AI-linked assets, rising sovereign bond yields, and escalating cyber threats stemming from an increasingly interconnected and digitized global financial architecture.

7. Bilateral Meetings

Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, held a bilateral meeting with Mr. Kazuhiko Amakawa, Governor of the Japan Bank for International Cooperation (JBIC), to exchange perspectives on expanding Thai-Japanese investment cooperation. Discussions focused on energy efficiency, the energy transition, and mobilizing Japanese private investment in Thailand. Both parties underscored the pivotal role of clean technology and innovative financing instruments in enabling enterprises to navigate the green transition, lower industrial energy costs, and boost manufacturing competitiveness to solidify long-term bilateral economic ties.

Mr. Vitai Ratanakorn, Governor of the Bank of Thailand, met with Mr. Emmanuel Moulin, Governor of Banque de France, and Stéphane Latouche, Chief Representative for Asia-Pacific, Banque de France, to establish frameworks for technical cooperation, bilateral dialogue, and central banking knowledge exchange.

The day also featured diverse thematic sessions and high-level forums, including the World Bank Group Flagship Seminar on “Micro, Small and Medium Enterprises (MSME) Finance: Leveraging Data for Jobs,” panel sessions at the New Economy Forum on digital asset architectures, Agentic AI, and public digital financial infrastructure, a Knowledge Café session on Data Centers, the G-24 Press Briefing, and closed-door leadership sessions. The general public can view live broadcasts of key proceedings on Facebook “AM2026 Thailand” and follow further details related to the meetings on the website www.am2026thailand.go.th.

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