[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110796-en":3,"doc-seo-110796-105":29,"detail-sidebar-cat-0-en-105":90},{"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":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110796,2336464648746,"Skyler","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","103rd Meeting of the Development Committee - Statement by Arturo Herrera Gutiérrez","Statement for the Spring 2021 Development Committee meeting (103rd) outlining the global challenges triggered by COVID-19 and the resulting worst recession since WWII. The statement describes weaknesses in risk preparedness and the sudden surge in demand for health systems and protective equipment. It highlights disruptive lockdowns, major impacts on tourism and transport, uneven fiscal constraints, rising debt burdens, and urgent needs for the World Bank Group to support sustainable and inclusive growth, jobs, and recovery.","Public Disclosure Authorized  \nPublic Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committeeof the  \nBoards of Governors of the Bank and the Fundon theTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND THIRD MEETINGWASHINGTON,DC-APRIL9,2021(VIRTUAL)  \nDC/S/2021-0010  \nApril 9,2021  \nStatement by  \nArturo Herrera GutiérrezSecretary of Finance and Public Credit  \nMexico  \nOn behalf of Costa Rica,EI Salvador,Guatemala,Honduras,Mexico,Nicaragua,and Kingdom of Spain  \nStatement by  \nArturo Herrera GutiérrezSecretary of Finance and Public Credit  \nMexico  \nOn behalf of Costa Rica,EI Salvador,Guatemala,Honduras,Mexico,Nicaragua,and Kingdom of Spain  \n# 103rd Meeting of the Development Committee\n\nApril 9,2021  \nWashington,DC  \n(VIRTUAL)  \nThe Spring 2021 Development Committee meeting provides an opportunity for the internationalcommunity to discuss key challenges following the onset of the first global pandemic of the 21st century.2020 will be remembered as a milestone in our collective history,a time of setbacks in livelihoods,development gains,and progress to reduce inequality and vulnerability.The unexpected outbreak of a newcorona virus(SARS-CoV2)swept the globe in a matter of weeks.It became a global emergency becausepopulations of all countries faced the risk of infection leading to death.The need for cooperation andcollective action,especially the financing and convening roles of multilateral organizations,became -andcontinue to be-critical.  \nWe must humbly recognize that risk preparedness and disaster risk management were insufficient.SARS-CoV2 caught all countries'health sectors off-guard.The sudden surge in demand for beds,intensive careunits,ventilators,and personal protective equipment surpassed existing infrastructure,inventories,andmanufacturing capacity.Notwithstanding the unrelenting efforts of paramedics,nurses,doctors and othermedical personnel,the death toll paid has been extremely high,and the pain and suffering of those whocontracted the COVID-19 disease without any proven treatment or lost their loved ones is unbearable.  \nDrastic decisions had to be taken to contain spread of the disease and save lives.Mandatory lockdownssuddenly interrupted trillions of transactions,limiting the exchange of goods and bringing services to a nearstand-still.Tourism-and transport-related areas were massively affected and physical distancingrequirements also hampered other productive activities,triggering a historic level of unemployment andfurloughs.The induced recession was expected to be short,but it extended much longer,wreakingwidespread havoc across and within economies.  \nThe result at a global level has been the worst recession since WWII,but for most countries only the GreatDepression was worse.While debt accumulation began before the pandemic,many countries are nowexperiencing an additional substantial debt increase,partly due to the stimulus programs they areimplementing coupled with large reductions in tax revenues linked to a large economic contraction.Thesedifficult circumstances impacted countries unevenly due to different economic structures and fiscal spaceto respond to the crisis.Therefore,the impact,struggle,and future challenges will also differ acrosseconomies.  \nNow,after a year of living with the pandemic,the World Bank Group needs to take stock of the pandemicand its consequences.The organizations should address the constraints to future development,identifyingsources of growth,jobs,and the drivers of sustainable and inclusive growth after such a devastating period.And they need to do so urgently,considering the challenges facing all members.  \nThe most advanced economies with reserve currencies have had access to historically low or even negativeinterest rates.On the other hand,the poorest countries have received support from the internationalcommunity,and those in debt distress have had access to the Debt Service Suspension Initiative supportedby the G20 countries.","cbCaii2jVRVhrES8","https://ap.wps.com/l/cbCaii2jVRVhrES8","pdf",944066,1,4,"English","en",105,"# 103rd Meeting of the Development Committee\n## Background: COVID-19 impacts and the global recession\n## Health system strain and emergency response needs\n## Economic disruption: lockdowns, unemployment, and recession\n## Debt dynamics and unequal national impacts\n## Priorities for the World Bank Group and member support\n## Special attention for underserved middle and forgotten majority","[{\"question\":\"What main global challenge does the statement emphasize from the Spring 2021 Development Committee meeting?\",\"answer\":\"The statement emphasizes the far-reaching challenges caused by COVID-19, including major health system strain and the resulting global recession and development setbacks.\"},{\"question\":\"How does the statement describe health system preparedness for SARS-CoV2?\",\"answer\":\"It states that risk preparedness and disaster risk management were insufficient, and that the sudden surge in demand for hospital beds, intensive care, ventilators, and protective equipment exceeded existing capacity.\"},{\"question\":\"Which two country groups require special attention in the World Bank Group response?\",\"answer\":\"The statement highlights “the underserved middle” and the “forgotten majority,” noting gaps in support for middle-income or transitional classifications and widespread overlooked 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main global challenge does the statement emphasize from the Spring 2021 Development Committee meeting?","Question",{"text":74,"@type":75},"The statement emphasizes the far-reaching challenges caused by COVID-19, including major health system strain and the resulting global recession and development setbacks.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement describe health system preparedness for SARS-CoV2?",{"text":79,"@type":75},"It states that risk preparedness and disaster risk management were insufficient, and that the sudden surge in demand for hospital beds, intensive care, ventilators, and protective equipment exceeded existing capacity.",{"name":81,"@type":72,"acceptedAnswer":82},"Which two country groups require special attention in the World Bank Group response?",{"text":83,"@type":75},"The statement highlights “the underserved middle” and the “forgotten majority,” noting gaps in support for middle-income or transitional classifications and 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