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Low-income, vulnerable states: IMF urges members to stock up funds
BANGKOK: IMF chief Kristalina Georgieva on Wednesday warned that current economic developments and the rapid advance of AI threaten to deepen the gulf between advanced and developing economies, especially given steep drops in development assistance. Georgieva, the first IMF chief from a developing country, said higher benchmark yields in advanced economies were spilling over to emerging markets and low-income countries. Average debt service costs had increased to 14 percent of revenue from 6 percent a decade ago, even as overall debt burdens have eased, she said. “The risk of divergence is mos...
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