[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110645-en":3,"doc-seo-110645-105":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":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},110645,7971461740909,"Levi","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","Development Committee - Statement by the Managing Director of the IMF (Kristalina Georgieva) - October 2021","The statement for the Development Committee’s one hundred and fourth meeting outlines an uneven COVID-19 recovery. Advanced economies are rebounding faster, while emerging markets and developing economies lag due to low vaccination rates, constrained policy space, and persistent output losses. Rising inflation—driven by supply-demand mismatches and higher commodity prices—poses added risks, particularly for low-income developing countries facing high food prices and limited health capacity. Priority actions include scaling vaccinations globally, expanding vaccine supply and distribution, and supporting financing and climate mitigation.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee of the  \nBoards of Governors ofthe Bank and the Fundon the  \nTransfer of Real Resources to Developing Countries)  \nDC/S/2021-0054  \nOctober 13, 2021  \nSTATEMENT BY THE MANAGING DIRECTOR  \nOF THE INTERNATIONAL MONETARY FUND  \nAttached for information for the Members of the Development Committee is a Statement from the Managing Director of the International Monetary Fund, Kristalina Georgieva for the Committee’s one hundred and fourth meeting to be held on October 15, 2021.  \nDEVELOPMENT COMMITTEE: THE MANAGING DIRECTOR'S WRITTEN STATEMENT  \nOctober 2021  \nAn uneven recovery from the COVID-19 pandemic has taken hold: while most advanced economies (AEs) are returning relatively swiftly to their pre-pandemic output paths, prospects for emerging market and developing economies (EMDEs) remain impacted by low vaccination rates and constrained policy space. Inflation rates have surged, driven by supply-demand mismatches and higher commodity prices. While inmost AEs, price pressures are expected to subside in 2022, in some EMDEs exchange rate adjustments and weaker policy frameworks hold the prospect for more persistent inflation. High food prices are a concern especially for low-income developing countries (LIDCs), a subset of EMDEs. The first policy priority is to rapidly increase COVID-19 vaccinations across the globe, not only for the sake of public health but also to put the recovery on a firm footing. This requires, inter alia, stepping up vaccine donations, increasing production and distribution of vaccines, and removing barriers to exports. LIDCs also need support with covering financing needs to protect core spending. The rapidly unfolding climate crisis calls for a strong effort to reduce greenhouse gas emissions in order to preserve the foundations of global prosperity.  \n ECONOMIC OUTLOOK AND RISKS  \nAn uneven recovery…  \n… led by advanced economies, while EMDEs are lagging behind  \nThe fault lines that broke open during the COVID-19 pandemic have become a persistent feature of the global recovery. Broad access to vaccines and large-scale policy support are facilitating a relatively swift economic recovery in most advanced economies (AEs) . By contrast, many emerging market and developing economies (EMDEs) face permanent output losses relative to their pre-pandemic growth trajectory. Moreover, the rapid spread of the Delta variant and the lingering threat of new, more virulent versions of the virus have increased uncertainty about how quickly the pandemic can be overcome.  \nThe global economy is projected to grow at 5.9 percent in 2021 in real terms, marginally below the World Economic Outlook’s April projection. For 2022, global growth of 4.9 percent is expected, an upgrade of 0.5 percentage point relative to the April forecast that reflects primarily additional policy support and better-thananticipated health outcomes in advanced economies. After 2022, global growth is projected to return to a trend growth rate of about 3.4 percent.  \nAEs are leading the recovery, with projected real growth of 5.2 percent this year and 4.5 percent in 2022. EMDEs are forecast to grow by 6.4 percent this year. Different from AEs, however, output in EMDEs is expected to remain below pre-pandemic projections during the forecast period. This relative weakness reflects inter alia low vaccination rates in many countries that act as a brake on the recovery. Vaccinations  \nLIDCs remain particularly hard hit  \nInflation is a risk especially for EMDEs and LIDCs  \nThe emergence of new virus variants  \nis the most important threat to the recovery  \nin EMDEs are expected to gradually catch up with AEs over the course of 2022. However, with an expected real growth rate of 5.1 percent, the recovery is projected to remain relatively tepid, reflecting in part that shrinking fiscal space is inducing many EMDEs to tighten fiscal policy.  \nLow-inco","cbCaisfoUNs94clo","https://ap.wps.com/l/cbCaisfoUNs94clo","pdf",261366,5,1,7,"English","en",105,"# Development Committee: Managing Director’s Written Statement\n## Uneven COVID-19 recovery and key macro risks\n## Economic outlook and global growth projections\n## Inflation pressures and vulnerabilities\n## Policy priorities for vaccinations, financing, and climate action","[{\"question\":\"Why is the COVID-19 recovery uneven across economies?\",\"answer\":\"Advanced economies are returning relatively quickly, while many emerging markets and developing economies lag due to low vaccination rates and constrained policy space. Permanent output losses and uncertainty from virus variants add further drag.\"},{\"question\":\"What are the major inflation risks highlighted in the statement?\",\"answer\":\"Inflation has surged amid supply-demand mismatches and higher commodity prices. While pressures may ease in 2022 in many advanced economies, some emerging markets may see persistent inflation from food costs, oil-price effects, and exchange-rate depreciation.\"},{\"question\":\"What actions does the statement recommend as the first policy priority?\",\"answer\":\"Rapidly increase COVID-19 vaccinations worldwide. The statement calls for vaccine donations, scaling production and distribution, removing export barriers, and providing support so low-income developing countries can protect core spending.\"}]",1784486408,18,{"code":4,"msg":31,"data":32},"ok",{"site_id":25,"language":24,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":28},"development-committee-statement-by-the-managing-director-of-the-imf-kristalina-georgieva-october-2021","",{"@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/development-committee-statement-by-the-managing-director-of-the-imf-kristalina-georgieva-october-2021/110645/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"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","2026-08-02","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},"Why is the COVID-19 recovery uneven across economies?","Question",{"text":76,"@type":77},"Advanced economies are returning relatively quickly, while many emerging markets and developing economies lag due to low vaccination rates and constrained policy space. Permanent output losses and uncertainty from virus variants add further drag.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"What are the major inflation risks highlighted in the statement?",{"text":81,"@type":77},"Inflation has surged amid supply-demand mismatches and higher commodity prices. While pressures may ease in 2022 in many advanced economies, some emerging markets may see persistent inflation from food costs, oil-price effects, and exchange-rate depreciation.",{"name":83,"@type":74,"acceptedAnswer":84},"What actions does the statement recommend as the first policy priority?",{"text":85,"@type":77},"Rapidly increase COVID-19 vaccinations worldwide. The statement calls for vaccine donations, scaling production and distribution, removing export barriers, and providing support so low-income developing countries can protect core spending.","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":25},{"code":4,"msg":5,"data":93},[94,98,102,106,110,115,119,122,127,130,134],{"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":22,"doc_module":4,"doc_module_name":46,"category_name":116,"show_sort_weight":117,"slug":118},"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":46,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":46,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":20,"slug":137},19,"General","general"]