Debt pressures dominate developing countries’ concerns after Bangkok finance meetings

Developing countries face unresolved pressures from rising borrowing costs, inflation and international conflict following the IMF and World Bank meetings in Bangkok, according to Reuters. Its Sunday assessment reported no major new initiatives addressing those challenges. IMF managing director Kristalina Georgieva said average debt-service payments in developing countries had more than doubled over a decade to 14% of government revenue. Those costs reduce resources available for education, healthcare and other public priorities. The meetings also highlighted uncertainty about artificial intelligence and the risk of poorer economies falling further behind. Source: Reuters analysis, 18 October.