Bangkok hosts the annual meetings of the IMF and World Bank from today until 18 October. Bulgarian National Bank governor Dimitar Radev is expected to attend.

It is the first time the city has hosted the forum since 1991. Finance ministers and central bankers are meeting, along with business leaders, international organisations and civil society. A representative of Bulgaria's finance ministry is also expected to join Radev.

The talks will focus on record global debt, costly energy and the fast spread of artificial intelligence (AI) in the economy. They will also cover the outlook for the world economy, inflation and interest rates, public finances, financial stability, how to create jobs and how to attract private investment.

Last week in Singapore, IMF managing director Kristalina Georgieva set out the main issues for the meetings. Two opposing forces are acting on the world economy, she said: a negative shock to energy supply and a positive shock to demand from the AI boom. Oil and natural gas prices are high, and this is feeding into inflation, interest rates and government budgets.

Public debt around the world is close to its highest level since World War Two and could soon pass 100% of global GDP, Georgieva said. In her view, many countries can no longer rely on growth alone to cut the weight of their debt. For 17 years, interest rates were generally below growth rates, but that is changing.

The IMF says governments with high debt should present credible medium-term plans to cut deficits, without harming growth or support for the most vulnerable groups. The fund expects central banks to stay on high alert.

The World Bank is paying special attention to AI as a route to higher productivity and new jobs. A discussion called "A little AI, a lot of jobs" is also due today. The IMF estimates that, if used well, AI could add up to 0.5 percentage points to annual growth in the world economy. Georgieva said the benefits are concentrated in a small number of countries and companies, which could deepen inequality and create new risks for financial stability.

Since 1991, the Asia-Pacific region's share of the world economy has grown from about 25% to 43%, she noted.

On Tuesday 13 October, the IMF will present its updated World Economic Outlook, with new estimates for the global economy and for individual countries, including Bulgaria. The Global Financial Stability Report is due later the same day.

On 14 October the fund will give new estimates on the state of public finances. The same day, governments, investors and financial institutions will discuss how to draw more private capital to emerging markets.

The World Bank's Development Committee meets on 15 October. The general plenary session is on 16 October, with the economic outlook for Europe to be presented. The IMF's International Monetary and Financial Committee meets on 17 October.