Members of the International Monetary Fund (IMF) have called for greater support for countries facing short-term financing challenges as conflicts, high energy prices and trade tensions add to global economic risks.
The appeal followed a meeting of the International Monetary and Financial Committee (IMFC) in Bangkok. In its chair’s statement, the committee warned that the global economic outlook remained tilted towards downside risks.
Conflicts Could Disrupt Trade
The statement highlighted the risk that escalating conflicts and trade tensions could disrupt key trade routes and increase pressure on commodity prices, particularly refined energy products. Such disruptions could also worsen energy and food security, adding to the challenges faced by countries already struggling with financing needs.
The statement was issued by Mohammed Al-Jadaan, Saudi Arabia’s Finance Minister and chair of the IMFC.
Calls for Greater Financial Support
IMF member countries stressed the need to increase assistance for economies facing immediate financing pressures linked to external shocks.
Higher energy costs and the wider effects of geopolitical conflicts can place additional pressure on national budgets, trade balances and access to essential supplies. The committee’s appeal highlights the importance of support for countries exposed to these risks.
The meeting took place as part of the IMF and World Bank annual meetings in Bangkok. The committee’s statement reflects concerns about the potential for further disruption to the global economy if geopolitical and trade pressures intensify.
