BANGKOK -- Finance ministers and central bank governors from Group of 20 major economies will meet in Bangkok on Thursday, but the international gathering is expected to end without a joint communique or a chair's summary.

U.S. Treasury Secretary Scott Bessent, representing this year's G20 chair, will not attend the meeting. It would be the first time in eight years that an October G20 finance ministers meeting has failed to produce a communique.

"The meeting often serves as a review, because it comes relatively soon after the summer G20 finance minister's meeting," a source accompanying the Japanese government delegation said. "Still, it's unusual for the finance minister from the chair country to be absent." Washington said Bessent will miss the meeting because of domestic engagements.

The G20 meeting will be held in conjunction with the annual meetings of the International Monetary Fund and the World Bank. The meeting will last one day, with Japanese Finance Minister Satsuki Katayama and Bank of Japan Gov. Kazuo Ueda attending. A meeting of finance ministers and central bank governors from the Group of Seven wealthy countries will follow.

International conferences bring together ministers from a wide range of countries and regions, including those at odds, enabling bilateral talks and sideline discussions.

A G20 leaders summit is scheduled for December. The finance ministers meeting could have helped lay the groundwork for global leaders to coordinate their response to an array of international challenges, including energy problems stemming from the U.S.-Iran conflict and concerns about public finances in advanced economies.

The biggest issues countries face now are dealing with high crude oil prices and ensuring sustainable petroleum reserves. West Texas Intermediate futures traded mostly in the range of $60 to $80 per barrel during the summer, but have climbed above $100 last month and are beginning to rise again.

In a speech last week, IMF Managing Director Kristalina Georgieva noted oil demand will rise as the northern hemisphere enters the cold season.

"Even if the war in the Gulf were to end soon, the problem of high energy prices would likely persist for some time," she said.

G7 leaders this month agreed to coordinate releases from petroleum reserves, but "concerns are mounting that emerging economies may be unable to secure adequate supplies," according to a senior BOJ official.

The G20 finance ministers meeting will be held at the same time as the IMF and World Bank annual meetings.

Some economies are currently benefiting significantly from surging demand for artificial intelligence. While the U.S. and China run large trade deficits in AI-related equipment, economies including Taiwan, South Korea, Malaysia and Mexico are benefiting from surpluses.

In its World Economic Outlook released on Tuesday, the IMF forecast emerging-market growth of 3.7% in 2026, down 0.1 percentage point from its July projection. While the Middle East and Central Asia, including Saudi Arabia, have slipped into contraction, AI demand is supporting growth in some emerging economies.

The disparity in benefits among economies is widening. "Looking at portfolio investment as well, demand is concentrating on AI-related stocks in emerging markets," said Chisaki Masukawa, senior economist at Daiwa Institute of Research. "If expectations for U.S. AI investment weaken, capital could flee." There are also concerns about countries' preparedness for a crisis, particularly the decline in foreign-exchange reserves that could be tapped for market intervention when currencies plunge.

Measured against the value of imports, Indonesia's foreign exchange reserves fell to the equivalent of 4.8 months of imports at the end of June, down from 6.2 months at the end of 2022, according to Daiwa Institute of Research. The Philippines' reserves slipped to 5.8 months from eight months, while Thailand's dropped to 5.9 months from 8.7 months.

Emerging markets recorded net capital outflows of $26.3 billion in September, according to the Institute of International Finance. It was the first time since June that outflows exceeded inflows, with particularly pronounced net outflows from Asian stock and bond markets.

In September, central banks in Japan, the U.S. and Europe simultaneously raised interest rates, ramping up capital-outflow pressure on emerging economies.

Without a joint statement or chair's summary at the finance ministers meeting to show that the G20 is prepared to address the issues facing developing economies, the group will head into its leaders summit with these challenges unresolved.