Ending wars, establishing lasting peace remain essential conditions for sustainable global growth – IMFC statement
Wars and conflicts continue to cause severe humanitarian suffering, accompanied by significant economic costs and tangible negative side effects, which hit the poorest and most vulnerable segments of the population the hardest, according to a statement from the 54th meeting of the International Monetary and Financial Committee (IMFC) in Bangkok on Saturday.
On Saturday, the International Monetary and Financial Committee (IMFC) held its 54th meeting in Bangkok, issuing a statement emphasizing the critical importance of ending wars and establishing lasting peace for sustainable global growth. The committee highlighted that conflicts continue to inflict severe humanitarian suffering and impose significant economic costs, disproportionately affecting the poorest and most vulnerable populations.
Despite weathering the latest global shock better than anticipated, the IMFC cautioned against taking such resilience for granted, as disruptions to supply chains and major structural transformations create uncertainty and price pressures. The organization prioritized macroeconomic and financial stability, private sector-led growth, and resilience through credible policies and international cooperation.
The IMFC remains hopeful about the rapid development of advanced technologies that can boost productivity, but warns that low-income countries and fragile states risk falling further behind. Risks remain predominantly on the downside, with escalating conflicts and trade tensions potentially disrupting critical trade routes, intensifying commodity price pressures, and worsening energy and food insecurity.
Additionally, the IMFC pointed out the impact of rising sovereign bond yields on global financial conditions, fueled by high public debt and refinancing needs in many countries. The committee called for sound macroeconomic policies, multilateral cooperation, fiscal consolidation, and investments that stimulate productivity and growth, while safeguarding the most vulnerable and promoting investments that foster productivity.
The IMFC also stressed the importance of central bank independence to maintain confidence in policies and keep inflation expectations stable, and urged banks to remain committed to price stability. Lastly, the committee underscored the significance of secure and resilient energy flows and upholding the principle of freedom of navigation as crucial for global economic stability. The next IMFC meeting is scheduled for April 2027 in Washington.
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