Arkhom recalls bid for Thailand’s 2026 IMF–World Bank return after 35 years
Arkhom credits Thailand’s expanded convention centre, transport links and diplomatic outreach for securing the 2026 IMF–World Bank meetings.
- Former finance minister Arkhom Termpittayapaisith recalls making the decisive move in 2022 for Thailand to formally apply to host the 2026 IMF-World Bank meetings, marking their return to Bangkok after 35 years.
- Confidence in the bid stemmed from Thailand's previous hosting experience in 1991 and the significant economic development and crisis management experience gained over the subsequent decades.
- Thailand's successful proposal highlighted four key advantages: expanded conference facilities, improved transport infrastructure, high-quality hotel capacity, and a proactive agenda for discussion topics.
- The year-long campaign involved diplomatic outreach in Washington and culminated in Thailand being selected over four other shortlisted countries by the IMF and World Bank Boards of Governors.
Former finance minister Arkhom Termpittayapaisith has traced Thailand’s successful bid to host the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group to his decision in 2022 to apply rather than simply explore the possibility. The campaign brought the gathering back to Bangkok after 35 years.
Arkhom described Thailand’s IMF–World Bank bid as a campaign combining preparations at home with diplomatic outreach in Washington. Thailand’s previous experience hosting the meetings in 1991 gave Arkhom confidence that the country could compete again.
Atchaka’s proposal prompted Thailand’s IMF–World Bank bid
Arkhom traced the hosting proposal to Atchaka Sibunruang, now an adviser to the board of the Thailand Convention and Exhibition Bureau (TCEB). Atchaka brought him a calendar of major international meetings in 2022, when he was finance minister.
Atchaka highlighted the 2026 IMF–World Bank meetings and suggested Thailand try applying, according to Arkhom. The proposal prompted Arkhom to call for a firm application rather than a tentative approach.
“I told her we shouldn’t just try, we should apply. We had hosted the meetings once before, in 1991, at the Queen Sirikit National Convention Center,” Arkhom recalled of the IMF–World Bank bid.
Arkhom’s confidence also rested on Thailand’s economic development and experience of navigating successive crises. The 35 years between the 1991 and 2026 IMF–World Bank meetings offered a chance to show other member countries how Thailand had changed.
“Over those 35 years, our level of development had advanced, so I thought Thailand could offer a good model of national development,” Arkhom said.
Arkhom said Thailand formally applied to host the IMF–World Bank meetings in December 2022 and reached a five-country shortlist alongside Qatar, Israel, the United Arab Emirates and Greece.
Thailand’s IMF–World Bank bid rested on four strengths
Thailand presented four principal advantages to the delegations assessing its readiness to host the IMF–World Bank meetings, according to Arkhom:
- Expanded conference facilities: The redeveloped Queen Sirikit National Convention Center offered five times its former space, with 22 breakout rooms and a plenary hall accommodating 2,500–3,000 people, according to Arkhom.
- Stronger transport connections: Arkhom highlighted the improvement since 1991, with Suvarnabhumi Airport, Bangkok’s Blue Line and other urban rail routes providing more extensive connections.
- Hotel quality and capacity: Thailand offered high-standard hotels and sufficient accommodation for international delegates, Arkhom said.
- A proactive agenda: Arkhom said Thailand was ready to propose useful ideas and discussion topics that other countries could develop further.
Arkhom pursued support for Thailand’s bid in Washington
Arkhom travelled to the Spring Meetings in Washington, DC, to meet senior World Bank executives, reaffirm Thailand’s readiness and ask for support for its IMF–World Bank hosting bid.
The World Bank and IMF executive boards considered the site assessments and the candidates’ regional groupings, with Thailand considered within Southeast Asia, according to Arkhom’s account.
In recounting the IMF–World Bank hosting contest, Arkhom described Thailand as securing more votes than the other candidates in the final selection. Arkhom characterised the campaign as almost a year of intensive work.
The IMF and World Bank announced Thailand’s selection on April 19, 2023, following a vote by their Boards of Governors. A separate hosting memorandum of understanding was signed on October 15, 2023, according to the Bank of Thailand.
Thailand’s return in 2026 made it the third country outside the United States to host the meetings more than once, a distinction confirmed in a joint statement by the Thai authorities and IMF.
Arkhom highlights mutual benefits of IMF–World Bank hosting
Arkhom described hosting the IMF–World Bank meetings as offering a “two-way benefit”: other countries could learn from Thailand’s development experience, while Thailand could draw on international institutions’ analysis of the global economy and future prospects.
Arkhom argued that international institutions’ economic analysis and forecasts could help Thailand adapt its policies and development approach, making the IMF–World Bank meetings an opportunity to exchange knowledge as well as showcase the country.
Arkhom also credited TCEB, Finance Ministry officials and the Royal Thai Embassy in Washington, DC, for the coordinated work behind the IMF–World Bank bid. The selection reflected international financial institutions’ confidence in Thailand’s capabilities, in Arkhom’s assessment.
The 2026 IMF–World Bank meetings gave delegates from 191 member countries an opportunity to experience the transformation of Bangkok and Thailand since 1991, Arkhom said. The former minister described visiting delegates as pleased to see the country’s development.
“They can see how Bangkok has changed from then to now,” Arkhom said.
Source: Krungthep Turakij
