[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110950-en":3,"doc-seo-110950-105":28,"detail-sidebar-cat-0-en-105":89},{"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":11},110950,687197207919,"Theodora","https://ap-avatar.wpscdn.com/avatar/a000253d6f5f7c60be?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779446848396160552",8,"Research & Report","Development Committee - Statement by H.E. Sri Mulyani Indrawati - 103rd Meeting","Statement by H.E. Sri Mulyani Indrawati, Minister of Finance Indonesia, representing multiple countries, for the 103rd Development Committee (virtual) meeting held on April 9, 2021. It reviews the uneven global recovery during the second pandemic year, urges the World Bank and IMF to strengthen support for debt management, vaccine access, and growth recovery. It calls for extending DSSI, improving the Common Framework’s guidance, preventing future debt crises through innovative financing, expanding COVAX participation, scaling vaccine supply and health-system capacities, and advancing a green, resilient, inclusive recovery via the GRID approach.","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 THIRD MEETING WASHINGTON, DC – APRIL 9, 2021  \n(VIRTUAL)  \nDC/S/2021-0016 April 9, 2021  \nStatement by  \nH.E. Sri Mulyani Indrawati  \nMinister of Finance  \nIndonesia  \nRepresenting the Constituency of Brunei Darussalam, Fiji, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Singapore, Thailand, Tonga and  \nVietnam  \nStatement by  \nH.E. Sri Mulyani Indrawati  \nMinister of Finance  \nIndonesia  \nRepresenting the Constituency of Brunei Darussalam, Fiji, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Singapore, Thailand, Tonga and Vietnam  \n103rd Meeting of the Development Committee  \nApril 9, 2021  \nWashington, DC  \n(VIRTUAL)  \nMore than a year has passed since the world was first hit by the current pandemic; a pandemic that spreads with an unprecedented speed and impact the global economy severely.  \nAs we enter the second year of the pandemic, when vaccine deployment has started in many countries, we expected an accelerated recovery. Although the Fund and the Bank has put 2021 Global Growth at a more positive trajectory at 5.5 percent and at 4.0 percent respectively, the spread of the growth is significantly uneven. A number of economies in our constituencies for example, are projected to have positive growth well above the world’s average, while those who are hit harder have a substantially lower growth projection.  \nIn light of these projections, we urge both the Bank and the Fund to step-up their effort in helping countries around the world, to effectively manage their debt burdens, improve their access to vaccine, and implement their growth recovery strategy based on the Bank’s comprehensive Growth, Resilience, and Inclusive Development (GRID) approach.  \nDebt Relief under the Common Framework and Beyond  \nIn respect to debt relief support, we have witnessed how pandemic induced shutdown has resulted in widespread job losses and derailed SDGs progress, leading to more people pushed into extreme poverty, malnourishment, and hunger. This has also exerted undue pressure on public sector finances as governments are grappling with rising debt levels and unsustainable fiscal deficits. In this period of uncertainty, the G20, World Bank and IMF and both bilateral and private creditors must collaborate to ensure fair burden sharing scheme to help LICs and MICs overcome some of the effects by extending the Debt Service Suspension Initiative (DSSI) for additional 6 months till end of 2021. In this regard, broad reach of DSSI for all eligible countries should be pursued to provide more liquidity to LICs and MICs.  \nThe tailored debt approach under the Common Framework (CF) for LICs and MICs is helpful. Nonetheless, debt relief is only a temporary measure and we need greater oversight and guidance from WB and IMF to address growing debt problem and mitigate elevated risk of debt distress. To this end, we welcome more clarity on how the CF complemented by policy guidance would help offset dependence on external debt through prioritizing the optimal mix of public investment and growth-friendly fiscal consolidation.  \nFurthermore, we need IFIs leadership to prevent future debt crisis through a more strategic approach. In this context, we believe mainstreaming of Multi-Pronged Approach alone is inadequate to ensure debt sustainability in the long run. Additional effort to develop innovative financing, especially for domestic resource mobilization among member economies, as well as promoting utilization of potential financing sources for sustainable development, such as carbon market, should be pursued.  \nSupport for Vaccines  \nIn regard to vaccine access, we would like to earnestly acknowledge the decisive efforts initiated by the World Bank Group for rolling out the $12 billion additional financing t","cbCailNRkhagVnQI","https://ap.wps.com/l/cbCailNRkhagVnQI","pdf",155462,1,3,"English","en",105,"# Debt Relief under the Common Framework and Beyond\n## Debt Service Suspension Initiative (DSSI)\n## Common Framework oversight and guidance\n## Preventing future debt crises and innovative financing\n# Support for Vaccines\n## Equitable access and scaling deployment\n## Roles of IFC and MIGA\n## COVAX engagement and health-system strengthening\n# Green, Resilient and Inclusive Development (GRID)","[{\"question\":\"Why does the statement stress the uneven global recovery during the pandemic’s second year?\",\"answer\":\"It notes that while some constituencies project growth above the world average, others face substantially lower growth. This unevenness motivates calls for intensified support from the Bank and Fund.\"},{\"question\":\"What does the statement request regarding debt relief and the DSSI?\",\"answer\":\"It urges extending the Debt Service Suspension Initiative (DSSI) by an additional six months to end-2021 and pursuing broad coverage for all eligible countries to provide more liquidity to LICs and MICs.\"},{\"question\":\"How should vaccine access and related health capacities be strengthened?\",\"answer\":\"The statement calls for more coherent global solidarity, stronger advocacy and coordination, expanded funding for supply of vaccines and diagnostics, increased COVAX engagement, and enhanced financing to strengthen disease early warning, research, and response capacities.\"}]",1784487853,{"code":4,"msg":29,"data":30},"ok",{"site_id":24,"language":23,"slug":31,"title":13,"keywords":32,"description":14,"schema_data":33,"social_meta":84,"head_meta":86,"extra_data":88,"updated_unix":27},"development-committee-statement-by-he-sri-mulyani-indrawati-103rd-meeting","",{"@graph":34,"@context":83},[35,51,66],{"@type":36,"itemListElement":37},"BreadcrumbList",[38,42,46,48],{"item":39,"name":40,"@type":41,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":43,"name":44,"@type":41,"position":45},"https://docshare.wps.com/document/","Document",2,{"item":47,"name":12,"@type":41,"position":21},"https://docshare.wps.com/document/research-report/",{"item":49,"name":13,"@type":41,"position":50},"https://docshare.wps.com/document/development-committee-statement-by-he-sri-mulyani-indrawati-103rd-meeting/110950/",4,{"url":49,"name":13,"@type":52,"author":53,"headline":13,"publisher":55,"fileFormat":58,"inLanguage":23,"description":14,"dateModified":59,"datePublished":60,"encodingFormat":58,"isAccessibleForFree":61,"interactionStatistic":62},"DigitalDocument",{"name":9,"@type":54},"Person",{"url":39,"name":56,"@type":57},"DocShare","Organization","application/pdf","2026-07-22","2026-07-19",true,{"@type":63,"interactionType":64,"userInteractionCount":20},"InteractionCounter",{"@type":65},"ViewAction",{"@type":67,"mainEntity":68},"FAQPage",[69,75,79],{"name":70,"@type":71,"acceptedAnswer":72},"Why does the statement stress the uneven global recovery during the pandemic’s second year?","Question",{"text":73,"@type":74},"It notes that while some constituencies project growth above the world average, others face substantially lower growth. This unevenness motivates calls for intensified support from the Bank and Fund.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"What does the statement request regarding debt relief and the DSSI?",{"text":78,"@type":74},"It urges extending the Debt Service Suspension Initiative (DSSI) by an additional six months to end-2021 and pursuing broad coverage for all eligible countries to provide more liquidity to LICs and MICs.",{"name":80,"@type":71,"acceptedAnswer":81},"How should vaccine access and related health capacities be strengthened?",{"text":82,"@type":74},"The statement calls for more coherent global solidarity, stronger advocacy and coordination, expanded funding for supply of vaccines and diagnostics, increased COVAX engagement, and enhanced financing to strengthen disease early warning, research, and response capacities.","https://schema.org",{"og:url":49,"og:type":85,"og:title":13,"og:site_name":56,"og:description":14},"article",{"robots":87,"canonical":49},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":90},[91,95,99,103,108,113,118,121,126,129,133],{"id":20,"doc_module":4,"doc_module_name":44,"category_name":92,"show_sort_weight":93,"slug":94},"Story & Novel",90,"story-novel",{"id":45,"doc_module":4,"doc_module_name":44,"category_name":96,"show_sort_weight":97,"slug":98},"Literature",80,"literature",{"id":50,"doc_module":4,"doc_module_name":44,"category_name":100,"show_sort_weight":101,"slug":102},"Exam",70,"exam",{"id":104,"doc_module":4,"doc_module_name":44,"category_name":105,"show_sort_weight":106,"slug":107},5,"Comic",60,"comic",{"id":109,"doc_module":4,"doc_module_name":44,"category_name":110,"show_sort_weight":111,"slug":112},6,"Technology",50,"technology",{"id":114,"doc_module":4,"doc_module_name":44,"category_name":115,"show_sort_weight":116,"slug":117},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":44,"category_name":12,"show_sort_weight":119,"slug":120},30,"research-report",{"id":122,"doc_module":4,"doc_module_name":44,"category_name":123,"show_sort_weight":124,"slug":125},9,"Religion & Spirituality",20,"religion-spirituality",{"id":124,"doc_module":4,"doc_module_name":44,"category_name":127,"show_sort_weight":124,"slug":128},"World Cup","world-cup",{"id":130,"doc_module":4,"doc_module_name":44,"category_name":131,"show_sort_weight":130,"slug":132},10,"Lifestyle","lifestyle",{"id":134,"doc_module":4,"doc_module_name":44,"category_name":135,"show_sort_weight":104,"slug":136},19,"General","general"]