IMF: Developing Economies Under Pressure

The IMF’s latest World Economic Outlook projects global growth of 3.1% and inflation of 4.7%. Geopolitical tensions, rising energy costs and extreme climate events are increasing pressure on developing economies, while technology-exporting countries benefit from the expansion of artificial intelligence. More than 60% of low-income countries are already over-indebted or at high risk of a debt crisis, limiting public spending and investment. At the World Bank and IMF annual meetings in Bangkok, representatives of developing economies discussed the effects of these challenges.