IMF Managing Director Kristalina Georgieva calls on wealthy nations to reduce debt at annual Bangkok meetings

IMF Managing Director Kristalina Georgieva addressed the autumn IMF and World Bank meetings in Bangkok, urging the United States and other wealthy nations to tackle mounting debt through fiscal consolidation rather than relying solely on economic growth. She warned that high interest rates driven by fiscal indiscipline in advanced economies are disproportionately burdening low-income countries, where debt repayments have reached historic highs relative to revenue. The IMF also announced plans to support Iraq with a loan programme and signaled progress on talks with Lebanon.