Bangkok:The 2026 IMF-World Bank Group Annual Meetings at the Queen Sirikit National Convention Center in Bangkok focused on 'Building Resilience in a Fragmented World.' This high-level discussion addressed the challenges of geopolitical polarization and explored strategies for strengthening resilience, adaptability, and connectivity in the global economy. Key participants included Dr. Ekniti Nitithanprapas, Thailand's Deputy Prime Minister and Minister of Finance, Kristalina Georgieva, Managing Director of the International Monetary Fund, Ajay Banga, President of the World Bank Group, and Riikka Purra, Finland's Deputy Prime Minister and Minister of Finance.
According to Thai News Agency, Dr. Ekniti emphasized the need for medium-sized economies like Thailand to act as "trusted connectors" in a polarized world. He highlighted the shift in economic focus from efficiency to stability, impacting trade, finance, and investment. Thailand has seen a 47% increase in foreign investment applications in the first half of 2026, driven by supply chain diversification. The government is working to reduce regulatory barriers to convert investment interest into tangible outcomes, aiming to enhance job creation, skill development, and capabilities for Thai citizens and businesses.
Dr. Ekniti also stressed the importance of trust at both international and national levels, using Thailand's traditional woven fabric patterns as a symbol of community participation on a global stage. These efforts underscore that trust must extend beyond government relations to involve people and communities, forming a foundation for economic resilience.
Ajay Banga highlighted changes in trade dynamics, noting a shift from developing countries relying on developed nations to increased intra-regional trade among developing countries. He pointed out ASEAN's relatively cohesive in-house trade and the need for more effectively implemented regional and bilateral trade agreements. The World Bank aims to inspire confidence in future generations and provide equitable access to opportunities.
Kristalina Georgieva remarked on the symbolic presence of Thai hand-woven fabrics in the meeting room, emphasizing the need to consider the voices of ordinary people in global economic policies. She urged participants to focus on cooperation and leave trade conflicts aside to work for the benefit of all.
Finland's Riikka Purra discussed the importance of balancing risk targeting to build economic resilience, suggesting that Finland's industrial capabilities and transition to clean energy could offer solutions to economic challenges. This approach leverages strategic strengths and promotes reciprocal interdependence for stability.
Source Thai News Agency