The IMF's October 2026 Global Financial Stability Report flags three risks: heavy debt funding of AI investment, high government borrowing costs that could push bond yields up fast, and cyberattacks that could disrupt payment and banking systems. The IMF says this is a warning, not a forecast of crisis. For Thai SMEs, the report points to possible knock-on effects on the stock market, the baht, borrowing costs and heavily indebted businesses, especially if foreign money flows out of emerging markets. No action is required now, but it is worth keeping debt levels manageable and checking your bank's cyber-security and payment backups.