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No Ordinary Wednesday: IMF 2026 | AI, debt and the global investment outlook

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AI investment is supporting growth, but its wider benefits remain uneven. Where will global capital go next, and what will businesses pay to access it?
In this special edition of No Ordinary Wednesday, Cumesh Moodliar, CEO of Investec South Africa, and Andrew Lillywhite, head of bank funding group at Investec UK, share first-hand insights from their time at the 2026 IMF and World Bank meetings in Bangkok. Drawing on conversations at the meetings, they examine the forces shaping global investment. They also identify signals that could support investment, from more stable long-term interest rates to the potential impact of a stronger South African credit rating.
Chapters
  • 00:00 Intro
  • 01:09 Geopolitics, AI and energy shape the global outlook
  • 03:28 US optimism, European caution and the emerging market opportunity
  • 05:33 Why businesses cannot bank on lower oil prices
  • 07:36 Global growth forecasts meet geopolitical uncertainty
  • 08:54 Global capital looks east and towards Africa
  • 10:53 How sovereign debt drives up business borrowing costs
  • 13:48 Inflation risks beyond the next rate decision
  • 15:43 UK growth improves, but investment confidence lags
  • 17:12 AI investment surges, but wider business gains lag
  • 18:34 South Africa’s growth challenge: From reform to investment
  • 21:56 Where global capital sees opportunity in South Africa
  • 23:31 Capital is available. Executable projects are the challenge.
  • 24:25 Investment outlook for 2027: Interest rates and credit ratings
19 Oct English South Africa Business · Investing

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