Protesters in Thailand oppose IMF and World Bank meetings.
Demonstrators accuse financial institutions of ignoring local communities’ concerns.
Global leaders discuss economic uncertainty amid the Middle East war.
The Finance Ministers of G20 countries and governors of central banks have gathered in Bangkok, Thailand, on Thursday to discuss the global economy amid uncertainty due to the US-Israel war on Iran.
The meetings are being held alongside the annual meetings of the International Monetary Fund (IMF) and the World Bank in Thailand’s capital from October 12 to 18.
IMF Managing Director Kristalina Georgieva and World Bank Group President Ajay Banga will also be attending the meeting. The group is expected to discuss the economic uncertainties in the world after the closure of the Strait of Hormuz due to the US-Iran war.
Union Finance Minister Nirmala Sitharaman will be in Bangkok from October 14 to 18, 2026, to attend the meetings. She will be representing India. She will also take part in meetings of the G20 and G7 Finance Ministers and Central Bank Governors.
During the visit, Sitharaman will meet Thailand’s Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas and the Finance Ministers of Switzerland, Japan, Luxembourg, Bhutan and Curaçao. She is also scheduled to meet IMF Managing Director Kristalina Georgieva and the Governor of the Japan Bank for International Cooperation, according to a press release.
Australia’s Treasurer Jim Chalmers MP said he would call for an end to the conflicts in the Middle East and the reopening of the Strait of Hormuz during the discussions, “because that’s what the global economy desperately needs,” Al Jazeera reported.
In a statement, Chalmers said, “The war in the Middle East is having a devastating economic impact and is pushing up fuel prices, inflation and interest rates around the world.”
What is G20?
The G20 is an economic forum that includes 19 major economies, such as the United States, China, the United Kingdom, Australia, Brazil, India, Japan, Indonesia and Saudi Arabia, along with the European Union and the African Union.
The group’s presidency changes every year and is currently held by the US. Together, G20 members account for around 85 per cent of the global gross domestic product (GDP) and three-quarters of world trade, according to Al Jazeera.
The G20 was formed in 1999 as a forum for finance ministers and central bank governors to discuss common economic issues following the Asian Financial Crisis. It later expanded to include meetings of national leaders.
