Member states of the International Monetary Fund call for increased financial support for economies affected by wars, expensive energy, and higher financing costs

Member states of the International Monetary Fund have called for increased financial support for countries affected by military conflicts, high energy prices and rising borrowing costs. The appeal was made on Saturday in Bangkok, in a statement by the International Monetary and Financial Committee, the IMF’s main strategic policy-setting body.

Representatives of the 191 member states warned that risks to the global economy remain predominantly negative. An escalation of wars and trade tensions could disrupt trade routes, drive up commodity prices and worsen energy and food security concerns.

The IMF will pay particular attention to low-income economies, vulnerable middle-income countries and conflict-affected states. Committee members encourage support for countries with sustainable debt and strong reform programs that are nevertheless facing temporary financing difficulties. Several countries have announced contributions to the IMF mechanism for concessional financing for poor countries.

The statement also mentions risks associated with advanced artificial intelligence technologies, rising bond yields, demographic changes, extreme weather events and geoeconomic fragmentation. The explicit reference to artificial intelligence was removed from the final document after negotiations in which the United States advocated the term “superintelligence.”