[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109857-en":3,"doc-seo-109857-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109857,962075114101,"Seraphina","https://ap-avatar.wpscdn.com/avatar/e000253a75eb197efd?x-image-process=image/resize,m_fixed,w_180,h_180&k=1780044092746381165",8,"Research & Report","101st Meeting of the Development Committee - Statement by H.E. Nirmala Sitharaman","Statement by H.E. Nirmala Sitharaman at the 101st meeting of the Development Committee (joint ministerial committee of the Boards of Governors of the Bank and the Fund) addresses the compounded humanitarian, public health, and economic crisis triggered by Covid-19. The statement describes how collapsing demand and tightening financing compress both supply and household welfare, while developing countries face worsening financial conditions, reduced remittances, and constrained fiscal space.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND ONE MEETING  \nWASHINGTON, DC – APRIL 17, 2020  \n(VIRTUAL)  \nDC/S/2020-0016 April 17, 2020  \nStatement by  \nH.E. Nirmala Sitharaman  \nMinister of Finance and Corporate Affairs Ministry of Finance India  \nRepresenting the Constituency of Bangladesh, Bhutan, India and Sri Lanka  \nStatement by  \nH.E. Nirmala Sitharaman  \nMinister of Finance and Corporate Affairs  \nMinistry of Finance  \nIndia  \nRepresenting the Constituency of Bangladesh, Bhutan, India and Sri Lanka 101st Meeting of the Development Committee  \nApril 17, 2019  \nWashington, DC  \n(VIRTUAL)  \n1. We gather today in the backdrop of an unprecedented humanitarian, public health, and economic crisis. The economic and social disruptions caused by Covid-19 pandemic have dealt twin shocks to several countries. On one side, the demand has collapsed with tightening financing conditions, increased risk aversion, and wiping out of household savings. On the other hand, the spillover effects from global developments, domestic containment measures, and broken supply chains are significantly constricting supply side. We are deeply concerned both by the speed and severity of the spread of this pandemic and are cognizant of the human costs of inaction. We acknowledge with gratitude the selfless efforts of the thousand of health workers and officials across the globe, combatting this health emergency.  \n2. Most countries are faced by dual challenge across the health and economic fronts, with the world economy projected to go into recession this year. While strong fiscal measures and financial policies are needed to counter this downturn, our capacity is also constrained by economic slowdown and budgetary pressures to counter the impact of the Covid-19. Early efforts to flatten the pandemic curve and save lives is likely to extend the length and severity of the economic dislocation.  \n3. The developing countries, in particular, are severely challenged by the economic consequences of this pandemic. Their financial conditions have become markedly more challenging, with increased bond spreads and devaluated currencies due to falling export earnings and flight of capital. With drying up of remittances and tax and tourism revenues, the fiscal space is being squeezed and developing countries cannot afford to provide the huge fiscal stimulus as in the advanced economies. Given their weak health systems, large swathes of population dependent on the informal sector, and low levels of financial inclusion, this pandemic can wipe out substantial progress made by these countries in ameliorating poverty. In this context, strong collective will is essential to turn expressions of international solidarity into meaningful global action against the unprecedented health crisis and economic damage.  \nDEVELOPMENT IN CONSTITUENCY COUNTRIES  \n4. In our Constituency countries, even as the number of cases is still lower side, we are concerned about the impossible challenge of enforcing social distancing measures in our urban and semi-rural environments with high population densities. Hence our countries are striving to calibrate their policies to balance economic and health challenges and implement speedy, decisive and targeted responses. Our sole objective is to prevent this crisis from permanently harming people and firms through job losses and bankruptcies. On March 15th, the leaders of the SAARC (South Asian Association for Regional Cooperation) countries interacted with one another through video conference to chart out a common  \nstrategy to combat COVID-19 in the region. In the spirit of collaboration, the Prime Minister of India proposed the creation of a COVID-19 Emergency Fund based on voluntary contributions from all the countries, with India making an initia","cbCaig1FlO6o0VAZ","https://ap.wps.com/l/cbCaig1FlO6o0VAZ","pdf",126761,3,1,10,"English","en",105,"# Introduction\n## Global crisis context\n# Development in constituency countries\n## Bangladesh\n## Policy response","[{\"question\":\"What main crisis does the statement address?\",\"answer\":\"It addresses an unprecedented humanitarian, public health, and economic crisis caused by the Covid-19 pandemic, highlighting both rapid health spread and severe economic disruption.\"},{\"question\":\"Why are developing countries described as more severely challenged?\",\"answer\":\"The statement notes worsening financial conditions from higher bond spreads and currency devaluation, reduced remittances and revenues, and limited fiscal space—especially given weaker health systems and large informal sectors.\"},{\"question\":\"What policy approach is mentioned for constituency countries like Bangladesh?\",\"answer\":\"The statement emphasizes calibrating measures to balance health and economic needs, preventing lasting harm to people and firms, and using stimulus and targeted support such as social safety nets and health sector financing.\"}]","101st Meeting of the Development Committee - Statement by H.E. 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