Kristalina Georgieva, Managing Director of the International Monetary Fund, warned that "winter is coming" for the global economy, pointing to risks from higher energy prices, rapidly rising public debt, and the swift development of artificial intelligence. She made the remarks in Singapore ahead of the IMF and World Bank Group Annual Meetings 2026 in Bangkok from October 12 to 18. The warning came as the yield on 30-year UK government bonds surged past 6.03%, the highest since 1998, long-term US borrowing costs reached their highest level since 2002, and oil prices climbed above 102 dollars a barrel. The IMF will release its October World Economic Outlook report on Tuesday, October 13, at 9:00 a.m. under the theme "Resilience under Strain, Urgent Choices." In its previous July report, the IMF projected the global economy would grow 3.0% in 2026 and 3.4% in 2027. The US economy would grow 2.3% in 2026 and 2.2% in 2027, China's economy would grow 4.6% in 2026 and 4.1% in 2027, and Thailand's economy would grow 1.9% in 2026 and 2.2% in 2027.
UK 30-year gilt yield surged past 6.03%, the highest since 1998, as the IMF warned of rising debt and global turbulence.
Long-term US borrowing costs reached their highest level since 2002 amid the IMF's global economic warning.
