The IMF assessed the potential impact of AI on the global labor market and found that, in most cases, AI is likely to worsen overall inequality. IMF chief Kristalina Georgieva urged policymakers to tackle this "troubling trend" and proactively take steps "to prevent the technology from further stoking social tensions."

Speaking during a meeting in Marrakech, the International Monetary Fund's managing director said the war between Israel and Hamas was a "new cloud" that was "darkening" the global economic outlook. Kristalina Georgieva said her organisation was monitoring the situation "very closely", although it was too soon to say what specific economic impact the conflict may have.

An ambassador of an African country to China on Thursday criticized the International Monetary Fund and the World Bank for restrictive lending policies. "My sincere belief is that IMF officials, World Bank officials, they are sincere in their belief that their debt sustainability framework works and works for the greater good," said Jang Ping Thia, lead economist and manager of the economics department at the Asian Infrastructure Investment Bank.

Climate shocks are already disproportionately affecting war-torn countries, a report from the IMF has shown. Many also bear the least responsibility for climate change.

Strengthening the New Development Bank (NDB) — or the so-called BRICS Development Bank — is top agenda of the BRICS summit agenda. Could the NDB, backed by the five emerging world economies: Brazil, Russia, China, India and South Africa, replace existing financial institutions, such as the IMF, in lending funds to developing nations?

The agreement should just be viewed as a "stopgap" that gives Pakistan time and some resources needed to pull its economy back from the verge of default, say experts.

The deal would provide much needed relief to Pakistan, which has been on the verge of default. The IMF board has yet to confirm the agreement.

The West African nation has been under financial strain stemming from the rolling impact of the pandemic, the war in Ukraine, and a range of other global economic trends.