[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110781-en":3,"doc-seo-110781-105":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":4,"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},110781,2336464648746,"Skyler","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","G24 COMMUNIQUÉ - October 11, 2021 - Development Committee Information Circulation","G24 Communiqué summarizes outcomes of the one hundred and sixth meeting of the Ministers of the Intergovernmental Group of Twenty-Four, held virtually on October 11, 2021, and circulated for the Development Committee. It highlights the uncertain global recovery from COVID-19, diverging growth across advanced and emerging economies, and persistent medium-term risks for EMDEs. The text calls for stronger multilateral cooperation to scale vaccine supply and ensure equitable access, supports IMF financing efforts and new SDR allocations, and urges reforms to IMF lending and surcharge policies to protect pandemic responses and vulnerable states.","P lubl  D iic os rls reu Auor ez Pub lc D c os reisc os ru Auor ez   \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/2021-0044  \nOctober 12, 2021  \nG24 COMMUNIQUÉ  \nThe attached Communiqué of the one hundred and sixth meeting of the Ministers of the Intergovernmental Group of Twenty-Four, held virtually on October 11, 2021, is circulated for the information of the Development Committee at the request of Ali Salehabadi, Governor of the Central Bank of the Islamic Republic of Iran, serving as Chair.  \n*****  \nINTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL MONETARY AFFAIRS AND DEVELOPMENT  \nCOMMUNIQUÉ  \nChaired by Ali Salehabadi, Governor of the Central Bank of the Islamic Republic of Iran  \nOctober 11, 2021  \n1. The global economy is recovering from the pandemic amidst an uncertain path. Growth in per capita incomes of advanced countries and many emerging and developing economies (EMDEs) continue to diverge, largely driven by uneven vaccine access, fiscal space and financial capacity to respond to the crisis. After severe output losses due to the pandemic, growth in the near term in many EMDEs is improving largely due to increasing domestic demand and higher commodity prices. Multiple social and economic challenges – food insecurity, increasing inequality, persistent unemployment and informality, setbacks in education and human capital development, heightened debt vulnerabilities, conflict, fragility and migration, climate change and increasing inflation risks – remain and weigh on medium-term prospects of most EMDEs. The sudden tightening of financial markets poses additional downside risks. Securing inclusive and sustainable growth will require international cooperation to provide widespread access to and distribution of affordable vaccines, ensure adequate external financial support to meet sustainable development goals and maintain financial market stability.  \n2. We call for stronger multilateral cooperation to scale up vaccine supply and ensure equitable access by all countries to affordable vaccines, which is the most critical global public good at this juncture. Concerted international support is essential to mobilize the IMF’s proposed US$50 billion global financing, preferably through grants or on concessional terms, to end the pandemic. We welcome all efforts, including by the Multilateral Leaders Task Force on Scaling COVID-19 Tools – composed of the World Bank Group (WBG), IMF, WHO and WTO – to tackle obstacles of reaching 40 percent vaccine coverage in all countries by end-2021, 60 percent by mid- 2022 and 70 percent by end-2022 . Advanced countries should ensure adequate upfront funding of Access to COVID-19 Tools Accelerator (ACT-A) and the COVAX Facility, fulfill their dosesharing pledges and agree on a patent waiver for COVID-19 vaccines and treatments in order to support global recovery and on humanitarian grounds. We commend the increased lending envelope of the WBG’s Pandemic Facility. We call on the Multilateral Development Banks (MDBs) to urgently support boosting vaccine manufacturing in EMDEs and welcome the IFC’s efforts in this regard. All countries should ease trade restrictions and tackle logistical, financial and supply-chain bottlenecks that impede effective production and distribution of vaccines, treatmentsand critical medical supplies.  \n3. We welcome the new $650 billion Special Drawing Rights (SDR) allocation to boost global liquidity, which is an important global response to the pandemic crisis. We call for a meaningful voluntary channeling of SDRs from countries with strong external positions to low-and middleincome countries that need support. We welcome channeling SDRs through the Poverty Reduction and Growth Trust (PRGT) . We also welcome the proposed Resilience and Sustainability Trust (RST) to support low-and-middle-income countries vulnerable to transfo","cbCaihpiYZASRjru","https://ap.wps.com/l/cbCaihpiYZASRjru","pdf",215236,1,6,"English","en",105,"# Global economic outlook and EMDE challenges\n## Vaccine access, multilateral cooperation, and trade/logistics bottlenecks\n## SDR allocation and resilience/sustainability financing\n## IMF lending toolkit, rapid financing, governance, and surcharge policy","[{\"question\":\"What meeting does the G24 Communiqué refer to, and when was it held?\",\"answer\":\"It refers to the one hundred and sixth meeting of the Ministers of the Intergovernmental Group of Twenty-Four, held virtually on October 11, 2021.\"},{\"question\":\"What does the communiqué call for regarding COVID-19 vaccines?\",\"answer\":\"It calls for stronger multilateral cooperation to scale vaccine supply and ensure equitable access, including adequate ACT-A/COVAX funding, fulfilling dose-sharing pledges, and agreeing to a patent waiver.\"},{\"question\":\"How does the communiqué propose supporting global liquidity and recovery?\",\"answer\":\"It welcomes the $650 billion SDR allocation and calls for meaningful voluntary channeling of SDRs to low- and middle-income countries, alongside proposed resilience and sustainability trust 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