Mohammed Al-Aidan, the Saudi Finance Minister and Chair of the International Monetary and Financial Committee (IMFC), reported at the recent committee meeting in Bangkok on the remarkable resilience of the global economy in the face of existing challenges. He referenced the exit of representatives from nearly half of the countries during the speech of Russian Finance Minister Anton Siluanov, emphasizing the importance of the members' overall agreement on the committee chair's statement.
Resilience of the Global Economy
Al-Aidan stated, "We have come here to pursue a goal and we have achieved it. The chair's statement clearly indicates that all members agree on it, and this is the most important point." He pointed out the profound challenges facing the global economy, including wars, threats to energy and food security, high levels of public debt, and risks arising from the rapid advancement of artificial intelligence, warning that financial officials should not be complacent.
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He continued, "The message from IMFC members is clear: there is no room for self-satisfaction." At the end of the annual meeting of the International Monetary Fund and the World Bank, attended by over 18,000 people in Bangkok, he stressed the need for international cooperation and stated that financial officials must work to rebuild their reserves and support vulnerable populations and growth investments.
Exit of Representatives and Political Implications
During Siluanov's speech, many representatives, including those from the UK, Germany, France, and other countries, left the hall. The President of the German Central Bank, Joachim Nagel, regarded this exit as a strong message in support of values and solidarity with Ukraine, stating, "This is a very strong signal that shows this senseless war must come to an end."
The President of the European Central Bank, Christine Lagarde, remained in the session and continued the dialogue while some representatives left the hall. These developments indicate that the war in Ukraine has significantly impacted international and economic relations, and political tensions remain at the international level.
Meanwhile, the President of the Central Bank of Ukraine, Andriy Pyshny, expressed surprise at the large number of financial officials who left the hall, describing it as a profound and emotional moment. He also emphasized that the Ukrainian economy is severely affected by the war and requires more international support.
Ultimately, Al-Aidan stressed the necessity of continuing international cooperation to address global imbalances and trade tensions, stating, "International cooperation is vital to solve these challenges."
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