IMF Urges Support for Nations Facing War Shocks

As IMF and World Bank annual meetings wrapped up in Bangkok on October 17, 2026, Managing Director Kristalina Georgieva said low-income countries now spend 8 to 14 percent of government revenue on debt repayments. "Inflation is like a tax on the poor," she told reporters, adding that people everywhere, especially in poorer countries, do not like inflation. The International Monetary and Financial Committee, chaired by Saudi Finance Minister Mohammed al-Jadaan, urged more support for countries facing short-term funding strains from war spillovers, high energy prices and rising debt costs. Its statement warned escalating conflicts and trade tensions could disrupt critical trade routes, exacerbate commodity price pressures including refined energy products, and worsen energy and food security. She said the IMF will give Iraq money and policy support and has made significant progress toward a Lebanon programme. Several members assured support for the Poverty Reduction and Growth Trust. Contested: A senior U.S. Treasury official told Reuters the United States sought to rename artificial intelligence as "super intelligence" in the statement. The final text used "advanced intelligence technologies." Al-Jadaan confirmed to Reuters all members agreed on the wording.