IMF Managing Director Kristalina Georgieva said Thai borrowing costs will rise because global bond yields are likely to stay high for a long time, driven by energy-led inflation and AI-related investment demand. She said emerging-market spreads are stable, but the higher base rate is raising debt-servicing costs. Her advice for Thailand: lift growth, keep macro fundamentals strong, and trade more within ASEAN (intra-ASEAN trade is about 22%, versus 60% in the EU). For an SME, this is a reason to review floating-rate loans and avoid taking on new debt on the assumption that rates will fall soon. No specific rate change or deadline was announced.