Georgieva closes Bangkok meetings: AI-only growth is like standing on one leg
The IMF chief calls the global economy resilient but warns of inflation, debt and one-sided reliance on AI. Energy importers without an AI sector will fall further behind, Georgieva says.
Archive image · Photo: Europäische Kommission - Audiovisueller Dienst, Xavier Lejeune, Yügen, CE - Service audiovisuel, EC - Audiovisual Servic / Wikimedia Commons, CC BY 4.0 (cropped and resized)
At the close of the annual meetings of the International Monetary Fund (IMF) and the World Bank in Bangkok, IMF Managing Director Kristalina Georgieva warned against excessive dependence on artificial intelligence. AI is an important pillar of growth, but relying on just one engine is like standing on one leg, she said on Saturday, according to the BTA news agency. Countries that have to import energy and are not part of the AI value chain will fall further behind, she said.
Georgieva described the global economy as resilient but facing considerable risks: persistent inflation, high government debt, climate risks and uncertainty about the development of AI. Many countries’ fiscal and energy buffers have been used up, and higher interest rates are increasing pressure on debt servicing, she said. She called inflation a “tax on the poor.” Central banks should focus on price stability and finance ministries on sound budgets. Ten donor countries, including Germany, pledged more than $100 million for the fund’s advisory and training programs, she said.
Saudi Finance Minister Mohammed Al-Jadaan, chair of the IMFC steering committee, summarized the outcome: wars and disruptions on key sea routes threaten energy and food security, while trade tensions and rising bond yields increase vulnerability. Among other things, he called for swift debt restructurings, credible medium-term fiscal plans and protection of central bank independence. Lasting stability can only be achieved through greater economic integration rather than fragmentation, he said.