Statement by the Honorable KATAYAMA Satsuki, Governor of the International Monetary Fund and the World Bank Group for Japan(Bangkok ― October 16, 2026)

I. Global Economic Developments and Japan’s Economic and Fiscal Policies

Japan would like to express its sincere gratitude to the government of Thailand and the citizens of Bangkok for their warm hospitality in hosting this year’s Annual Meetings. We also convey our deepest condolences to those who lost their lives in the floods that struck Thailand last month, and their families, as well as our sympathies to those affected.
The global economy is facing heightened uncertainty and a variety of risks, including geopolitical tensions and negative impacts on supply chains caused by trade restrictions. While it has shown a certain degree of resilience so far, risks remain significant. It is necessary to keep in mind the impact of uncertainty on financial markets.
The current situation in the Middle East is adversely affecting global energy supplies and logistics. It is essential to ensure the free and safe navigation of the Strait of Hormuz as soon as possible. Arbitrary export restrictions on critical minerals are downside risks to the global economy and hence should be withdrawn.
It is critical to end Russia’s illegal aggression against Ukraine without delay, achieving a just and lasting peace. For Japan to continue its support for Ukraine together with the International Monetary Fund (IMF) and World Bank Group (WBG), we call on Ukraine to steadily implement its reforms.
In addition to tackling the immediate challenges, each country is required to address structural issues—technological innovation, intensifying and frequent natural disasters and demographic change— and to enhance its economic resilience. To this end, it is essential for advanced and developing economies to achieve both economic growth and fiscal sustainability. Amid Japan’s transition to positive inflation and interest rates, we will maintain market confidence and achieve both economic growth and fiscal sustainability, including through placing the government debt to GDP ratio on a firm declining path.