Egypt's foreign minister joins IMF, World Bank annual meetings governors' session in Bangkok

Egypt's Foreign Minister Badr Abdelatty participated in the governors' plenary session at the IMF and World Bank annual meetings in Bangkok on Friday.

• Abdelatty joined the governors' plenary session, attended by Thai Prime Minister Anutin Charnvirakul, World Bank President Ajay Banga, and IMF Managing Director Kristalina Georgieva.
• The session addressed international cooperation on economic challenges, the use of technology and artificial intelligence, and sustainable growth for developing countries.
• Discussions covered unifying international efforts to support economic stability, stimulate investment, and create sustainable jobs.
• IMF Managing Director Kristalina Georgieva called on financial leaders to cooperate on risks including high debt, rapid AI, and cyberattacks.
• She warned that accelerating AI growth could widen the gap between advanced and developing economies amid declining development aid.
• She urged countries to fund the Poverty Reduction and Growth Trust and replenish the Catastrophe Containment and Relief Trust.
• World Bank President Ajay Banga said the world faces a development gap of nearly 800 million jobs over the next decade.
• He outlined reforms to halve project preparation time and expand the bank's lending capacity by over $100 billion.
• Banga said private capital mobilization rose from $35 billion in fiscal 2022 to $112 billion last year.