[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110586-en":3,"doc-seo-110586-105":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},110586,687197207639,"Asher","https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd",8,"Research & Report","Statement by Alexey Overchuk - 106th Meeting of the Development Committee - October 14, 2022","Statement by Alexey Overchuk at the 106th meeting of the Development Committee addresses the drivers of the global food and energy crises, linking worsening economic development to policy and decision errors, the COVID-19 pandemic, and disruptions in commodity and energy markets. It highlights inflation pressures from logistics shocks, budget deficits, and soft monetary conditions, alongside energy market interference and fertilizer price increases. It argues for reopening international markets, removing excessive trade barriers and sanctions, and refocusing efforts on resilient food systems, adaptation-focused climate action, and reliable supply chains for developing countries.","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 SIXTH MEETINGWASHINGTON,DC-OCTOBER 14,2022  \n## Statement by\n\nAlexey OverchukDeputy Prime Minister  \nof the Russian Federation  \nDC/S/2022-0049  \nOctober 14,2022  \n# Statement by\n\nAlexey OverchukDeputy Prime Minister  \n### of the Russian Federation\n\n# 106ʰMeeting of the Development Committee\n\n### October 14,2022\n\n# Washington,DC\n\nThe world is facing an increasingly challenging array of issues that hinder economic development anddecrease the standard of living across both developed and developing countries.These issues are vividlydisplayed in diminishing access to energy and food,the origins of which are evidently traced to a sequenceof errors rooted in often overambitious and arrogant policy and decisions extending many years before2022.  \nThe COVID-19 pandemic was the tipping point for the current crisis.It has revealed and multipliedinconsistencies and controversies that have been accumulating over the years.Unfortunately,despite all theefforts,including those of the World Bank Group,the world was not fully able to unite in addressing thepandemic crisis.We have seen how one of the available vaccines was not registered,thus denying peoplethroughout the developing world access to one of the safest and most efficient vaccines.  \nJust like treating a disease requires a correct diagnosis,a successful solution to the developing situationrequires an unbiased identification of the true origins of the global food and energy crises.  \nThe roots of the situation in farm commodities markets are traced to at least two years prior to 2022,andenergy markets disruptions started accumulating even long before that.In 2021 annual wheat price spikewas already at 70%and natural gas price in Europe was at the record level of $1300 per thousand cubicmeters in the fall of 2021.These increases resulted from a combined effect of miscalculations in financial,trade,energy,food,and climate policy decisions made in the developed countries.  \nThe COVID-19 pandemic has contributed to the crises by disrupting logistics and increasing freight andinsurance costs and national-level food security protectionist and support measures.Increasing budgetdeficits combined with soft monetary policies have increased demand which has resulted in the rising levelof inflation.  \nAdministrative interference in the fragile structure of the natural gas market,overambitious climate policy,and reliance on alternative energy sources,which are not yet backed by reliable technologies,have resultedin lower levels of investment in traditional energy sectors and,consequently,higher oil and gas prices.Itwas these policies that,by the end of 2021,have led to a dramatic rise in fertilizer prices.The combinedeffect of oil and fertilizer price increase has resulted in the reduction of farming areas,lower farm yieldsand a shrinking market supply of farm commodities.  \nRussia is a responsible major global supplier of farm inputs,including energy and fertilizers,as well asfarm commodities and food.Unjustified economy-constraining measures introduced by developedeconomies against Russia are causing major trade disruptions and affecting energy,fertilizer and farmmarkets and are having destabilizing effects on the developing world  \nLegal uncertainty and fear of secondary sanctions by traders,shipping,insurance,and financial agents arecausing market disruptions across global supply chains and are preventing all of us from addressing foodsecurity issues in a meaningful way.Such restrictions should not have been introduced in relations to foodand energy markets,and when it comes to ensuring access for the developing countries.  \nIn 2022 the Russian Federation achieved a record grain crop.We remain a responsible supplier to globalmarkets.By the end of 2022/20","cbCaioTQ1cyI4745","https://ap.wps.com/l/cbCaioTQ1cyI4745","pdf",327080,1,3,"English","en",105,"# Statement by\n## Alexey Overchuk\n## 106th Meeting of the Development Committee\n## October 14, 2022\n## Global drivers of food and energy crises\n## Market disruptions and sanctions\n## Russia’s role as supplier\n## Policy recommendations for the World Bank Group\n## Climate action and adaptation","[{\"question\":\"What does Alexey Overchuk identify as the main origins of the global food and energy crises?\",\"answer\":\"He traces the roots to a sequence of policy errors over many years, intensified by the COVID-19 pandemic and compounded by disruptions in energy and farm commodity markets. He emphasizes miscalculations across financial, trade, energy, food, and climate policy decisions.\"},{\"question\":\"How does the statement explain the link between the pandemic and today’s economic problems?\",\"answer\":\"It states that COVID-19 disrupted logistics and increased freight and insurance costs, while also strengthening national protectionist and support measures for food security. Combined budget deficits and soft monetary policies are said to have increased demand and driven higher inflation.\"},{\"question\":\"What actions does the statement urge multilateral institutions and the World Bank Group to take?\",\"answer\":\"It calls for upholding multilateralism by reopening international markets, removing excessive trade barriers and sanctions, and strengthening international economic and financial architecture. It also recommends tailoring approaches to reinforce resilient food systems, improve energy access and efficiency, and focus climate financing on adaptation for the most vulnerable.\"}]",1784486120,{"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},"statement-by-alexey-overchuk-106th-meeting-of-the-development-committee-october-14-2022","",{"@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/statement-by-alexey-overchuk-106th-meeting-of-the-development-committee-october-14-2022/110586/",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},"What does Alexey Overchuk identify as the main origins of the global food and energy crises?","Question",{"text":73,"@type":74},"He traces the roots to a sequence of policy errors over many years, intensified by the COVID-19 pandemic and compounded by disruptions in energy and farm commodity markets. He emphasizes miscalculations across financial, trade, energy, food, and climate policy decisions.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"How does the statement explain the link between the pandemic and today’s economic problems?",{"text":78,"@type":74},"It states that COVID-19 disrupted logistics and increased freight and insurance costs, while also strengthening national protectionist and support measures for food security. Combined budget deficits and soft monetary policies are said to have increased demand and driven higher inflation.",{"name":80,"@type":71,"acceptedAnswer":81},"What actions does the statement urge multilateral institutions and the World Bank Group to take?",{"text":82,"@type":74},"It calls for upholding multilateralism by reopening international markets, removing excessive trade barriers and sanctions, and strengthening international economic and financial architecture. It also recommends tailoring approaches to reinforce resilient food systems, improve energy access and efficiency, and focus climate financing on adaptation for the most vulnerable.","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"]