Finance ministers and central bankers from 191 countries are in Thailand for the week-long gathering, the first outside Washington in three years.
The 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group kicked off on Monday in Bangkok. They run through Sunday, October 18, as more than 15,000 policymakers, economists, officials, business executives and journalists from 191 countries and regions are attending at the Queen Sirikit National Convention Center.
Thailand last hosted the meetings 35 years ago, in 1991.
The Agenda
Ahead of the meetings, IMF Managing Director Kristalina Georgieva named three forces shaping the global economy: the rapid rise of AI, persistently high energy prices and record levels of public debt.
IMF data show global public debt is at its highest level since World War II and is projected to exceed 100% of GDP by 2029.
Georgieva also cautioned against optimism, warning that “winter is coming.”
World Bank President Ajay Banga said the global economy has held up better than feared but warned of rising diesel and fertiliser prices and a looming super El Niño that could hit developing nations.
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He told Reuters that conditions have avoided the worst-case deterioration feared after the Strait of Hormuz closure, but downward pressure is building again.
Reports say the Middle East conflict, now in its eighth month, together with energy shocks, high debt and inflation, is dominating discussions.
What’s on the calendar?
Opening events include a World Bank discussion on artificial intelligence and employment, plus sessions on mobilising private capital.
The IMF will launch its latest Global Financial Stability Report (GFSR) on Tuesday, October 13
The World Bank Development Committee meets on Thursday, October 15, and the Annual Meetings plenary is on Friday, October 16. G20 and G7 finance ministers’ and central bank governors’ meetings are also scheduled during the week.
Absences and security
US Treasury Secretary Scott Bessent, whose country holds this year’s G20 presidency, is skipping both the Annual Meetings and the G20 gathering, citing domestic obligations. He is sending two senior Treasury officials in his place. Security is heightened because of the Middle East conflict.
Thai authorities have declared special public holidays and deployed an extensive fleet of electric vehicles to ease congestion.
Why it matters for Nigeria
Nigeria’s exposure runs both ways. High energy prices can lift oil earnings, but rising diesel and fertiliser costs add to inflation and food-price pressure at home.
With global public debt at record levels, debt sustainability, borrowing costs and access to concessional financing are likely to matter for the Nigerian delegation. The Nigerian delegation is led by Mr Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, supported by the central bank governor, Mr Olayemi Cardoso, and other heads of relevant ministries, departments and agencies of government.
Pinnacle Daily is reporting life from Bangkok, Thailand, coordinated by its editor, Sunday Michael Ogwu
Sunday Michael Ogwu is a Nigerian journalist and editor of Pinnacle Daily. He is known for his work in business and economic reporting. He has held editorial roles in prominent Nigerian media outlets, where he has focused on economic policy, financial markets, and developmental issues affecting Nigeria and Africa more broadly.