Mr. Vitai Ratanakorn, Governor, Bank of Thailand, attended the IMF - WBG Spring Meetings and related events from 15 - 17 April 2026 in Washington, D.C., USA.

The IMF projects that global economic growth will slow to 3.1% in 2026 and 3.2% in 2027, while inflation is expected to rise to 4.4% and 3.7%, respectively. These projections are based on the assumption that the situations in the Middle East and its associated impacts will gradually ease by mid 2026.

The IMF assesses that the effects on countries will materialize through 3 main transmission channels: (1) higher commodity prices, particularly energy and food; (2) inflationary pressures that may feed into inflation expectations; and (3) tighter financial conditions and heightened volatility in global financial markets, although overall conditions remain manageable.

The IMF also expects that emerging market economies will face more severe impacts than advanced economies, with countries heavily dependent on energy and food imports being the most affected. Under these circumstances, the IMF underscores the importance of fiscal policy in supporting vulnerable groups through targeted measures, while also putting in place a credible medium term fiscal consolidation strategy. Monetary policy should remain flexible and stand ready to adjust, taking into account incoming inflation data, while avoiding premature interest rate increases.

In addition, the Governor met with IMF senior management to exchange views on the global economic and financial outlook, IMF policies with implications for the region and Thailand, and to discuss preparations for Thailand’s hosting of the IMF–World Bank Group Annual Meetings this October.