Rapid AI dev't could deepen gulf between advanced and developing economies — IMF

BANGKOK - IMF chief Kristalina Georgieva on Wednesday said current economic developments and the rapid pace of AI development could deepen the gulf between advanced and developing economies, especially given a sharp drop in development assistance.

She said the International Monetary Fund recognized its responsibility to help finance countries when needed, and urged IMF member states to make good their pledges to increase funding in the IMF's Poverty Reduction and Growth Trust, which provides low- and zero-interest loans to low-income countries.

She said the IMF was also asking members to replenish the Catastrophe Containment and Relief Trust, a specialized fund that provides grants for debt-service relief and cancellation to the poorest and most vulnerable member countries.

-Reporting by Andrea Shalal; Editing by John Mair/Reuters