[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110122-en":3,"doc-seo-110122-105":30,"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":20,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},110122,687197100911,"Himbo","https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697",8,"Research & Report","107th Meeting of the Development Committee - Statement by Mathias Cormann and Carsten Staur - April 12, 2023","This statement for the 107th Development Committee meeting assesses global growth and stability in the context of Russia’s war of aggression against Ukraine, the cost-of-living crisis, tighter monetary conditions, and ongoing COVID-related disruptions in China. It highlights stalled progress on hunger and extreme poverty, a widening financing gap for the Sustainable Development Goals, inflation eroding aid purchasing power, and increased debt vulnerabilities. The statement also addresses democracy declines, risks to civil liberties, the need to accelerate gender equality, and requirements for more effective, modernized responses to fragility, conflict, and violence.","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 SEVENTH MEETING WASHINGTON, DC – APRIL 12, 2023  \nDC/S/2023-0036 April 12, 2023  \nStatement by  \nMathias Cormann  \nSecretary-General  \nand  \nCarsten Staur  \nChair of the OECD Development Assistance Committee  \nOECD  \nStatement by  \nMathias Cormann  \nSecretary-General  \nand  \nCarsten Staur  \nChair of the OECD Development Assistance Committee  \nOECD  \n107th Meeting of the Development Committee  \nApril 12, 2023  \nWashington, DC  \n1. Global growth in 2022 slowed to 3.2%, some 1.3 percentage points weaker than expected in late 2021, reflecting the effects of Russia’s war of aggression against Ukraine, the cost-ofliving crisis, rising interest rates and continued COVID-related disruptions in China. The war in Ukraine increased inflationary pressure, driving up energy and food prices in the first half of  \n2022. While more positive signs regarding activity and inflation have appeared in early 2023, global GDP is projected to only grow at 2.6% in 2023 and 2.9% in 2024, and the improvement in the outlook remains fragile.  \n2. Progress on improving global stability and reducing hunger and extreme poverty has stalled since the onset of the COVID-19 pandemic, especially in the least-developed countries. This has highlighted the risks of a “great divergence” between developed and developing countries. Many least-developed countries already face serious fiscal challenges, while economic diversification and structural transformation remain limited. Attracting private finance has been a major challenge as well.  \n3. In 2020, the financing gap to reach the Sustainable Development Goals in developing countries (i.e. the gap between available finance for sustainable development and financing needs) grew by 56%, totalling USD 3.9 trillion. Russia’s war of aggression against Ukraine has further changed the macroeconomic context for ODA provision. Growth is weaker than expected prior to the war and fiscal space in advanced economies is constrained, which could adversely impact development spending.  \n4. High inflation is eroding the purchasing power of the development aid that countries receive. For example, Russia’s war of aggression against Ukraine could add USD 718 billion cost for leastdeveloped countries over 2022-23, mainly through inflation. Governments are under pressure to manage and curb the impacts of inflation, while public revenues in developing countries are projected to remain 20% below pre-COVID forecasts. This adds to the inevitable diversion of ODA from previous aid priorities due to the war.  \n5. Tighter financing conditions, increased debt, the strong appreciation of the US dollar and the slowdown of export market growth are exacerbating vulnerabilities. 56% of low-income countries are in debt distress or at high risk of debt distress. COVID-19-related initiatives, such as  \nthe G20 Debt Service Suspension Initiative or the Common Framework which intended to deal with insolvency and protracted liquidity problems, have proven to be insufficient for a situation that requires meaningful debt restructuring. Resolving the sovereign debt impasse is vital for development and in countries’ collective interests as faster resolutions will enable investment and growth.  \n6. Democracy experienced its largest annual decline in 2021 over the last 10 years, based on the Democracy Index of the Economist Intelligence Unit. Democratic rights are under threat in many countries, with authoritarian regimes restricting civil society and increasing attacks on civic and political freedoms. An estimated 2.8 billion people live in countries with autocratic characteristics, up from 415 million in 2016. Progress towards more open, equitable and liberal democratic societies remains elusive to many citizens across","cbCailbTgc4FDtRq","https://ap.wps.com/l/cbCailbTgc4FDtRq","pdf",197034,5,1,"English","en",105,"# 107th Meeting of the Development Committee\n## Global growth, stability and development risks\n## Financing gaps for the Sustainable Development Goals\n## Impacts of inflation and diversion of ODA priorities\n## Debt distress and limits of restructuring initiatives\n## Democratic backsliding and authoritarian trends\n## Advancing gender equality in development cooperation\n## Fragility, conflict and violence; crisis response mechanisms\n## The value and role of development aid (ODA)","[{\"question\":\"What key macroeconomic factors are discussed as drivers of slower global growth and fragility?\",\"answer\":\"The statement cites Russia’s war on Ukraine, the cost-of-living crisis, rising interest rates, and continued COVID-related disruptions in China, alongside weakening GDP projections for 2023 and 2024 and fragile improvements in outlook.\"},{\"question\":\"Why is progress on reducing hunger and extreme poverty described as stalled?\",\"answer\":\"It is said to have stalled since the COVID-19 pandemic, especially in least-developed countries, reflecting risks of a “great divergence” and challenges such as limited fiscal space, constrained diversification, and difficulty attracting private finance.\"},{\"question\":\"How does the statement connect inflation and debt vulnerabilities to development assistance and ODA outcomes?\",\"answer\":\"High inflation is described as eroding the purchasing power of development aid, with governments pressured to curb impacts while public revenues remain below pre-COVID forecasts. It also notes tighter financing, increased debt, and the strength of the US dollar as worsening vulnerabilities, with a majority of low-income countries facing debt distress risks.\"}]","107th Meeting of the Development Committee - Statement by Mathias Cormann and Carsten Staur - April 12, 2023 | PDF",1784483997,13,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":28},"107th-meeting-of-the-development-committee-statement-by-mathias-cormann-and-carsten-staur-april-12-2023","",{"@graph":36,"@context":86},[37,54,69],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":53},"https://docshare.wps.com/document/107th-meeting-of-the-development-committee-statement-by-mathias-cormann-and-carsten-staur-april-12-2023/110122/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":23,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":41,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-29","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What key macroeconomic factors are discussed as drivers of slower global growth and fragility?","Question",{"text":76,"@type":77},"The statement cites Russia’s war on Ukraine, the cost-of-living crisis, rising interest rates, and continued COVID-related disruptions in China, alongside weakening GDP projections for 2023 and 2024 and fragile improvements in outlook.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"Why is progress on reducing hunger and extreme poverty described as stalled?",{"text":81,"@type":77},"It is said to have stalled since the COVID-19 pandemic, especially in least-developed countries, reflecting risks of a “great divergence” and challenges such as limited fiscal space, constrained diversification, and difficulty attracting private finance.",{"name":83,"@type":74,"acceptedAnswer":84},"How does the statement connect inflation and debt vulnerabilities to development assistance and ODA outcomes?",{"text":85,"@type":77},"High inflation is described as eroding the purchasing power of development aid, with governments pressured to curb impacts while public revenues remain below pre-COVID forecasts. It also notes tighter financing, increased debt, and the strength of the US dollar as worsening vulnerabilities, with a majority of low-income countries facing debt distress risks.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":93},[94,98,102,106,110,115,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":46,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":46,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":46,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":46,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":46,"category_name":137,"show_sort_weight":20,"slug":138},19,"General","general"]