[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110113-en":3,"doc-seo-110113-105":31,"detail-sidebar-cat-0-en-105":91},{"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":28,"seo_description":14,"update_tm":29,"read_time":30},110113,687197100911,"Himbo","https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697",8,"Research & Report","Statement by H.E. Enoch Godongwana at the 107th Meeting of the Development Committee - April 12, 2023 - Submission","A statement delivered by South Africa’s Minister of Finance, H.E. Enoch Godongwana, on behalf of the constituency of Angola, Nigeria and South Africa, at the 107th Development Committee meeting. The intervention reviews subdued global growth, rising external debt pressures, and the spillover effects of tightened financial conditions. It highlights multiple existential crises in Sub-Saharan Africa, including debt, energy access gaps, health-care and pandemic preparedness, and food insecurity, and welcomes progress in World Bank Group Evolution while urging strategic recommitment aligned with the 2030 Agenda.","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/2023-0018 April 12, 2023  \nStatement by  \nH.E. Enoch Godongwana  \nMinister of Finance  \nMinistry of Finance  \nSouth Africa  \nOn behalf of the Constituency of Angola, Nigeria and South Africa  \nStatement by  \nH.E. Enoch Godongwana  \nMinister of Finance  \nMinistry of Finance  \nSouth Africa  \nOn behalf of the Constituency of Angola, Nigeria and South Africa 107th Meeting of the Development Committee  \nApril 12, 2023  \nWashington, DC  \nGlobal economic Context  \n1. We are meeting at a time of subdued Global growth, which was estimated at 3.4 percent in 2022 and is now projected to fall to 2.9 percent in 2023 before it would rebound to 3.1 percent in 2024. This is below the historical (2000–19) annual average of 3.8 percent. We believe that the forecast of low growth in 2023 reflects the central bank rates hike to fight inflation especially in advanced economies as well asthe ongoing crisis in Ukraine. We also believe that the growth decline in 2023 is driven mostly by advanced economies; emerging market and developing economies growth is estimated to have bottomed out in 2022. While oil prices are projected to fall by about 16 percent, non-oil commodity prices are expected to fall by, on average, 6.3 percent in 2023. Global interest rate assumptions are revised upward, reflecting intensified actual and anticipatory policy tightening by major central banks since October. Given these scenarios, many economies are adversely impacted by the negative spillovers from some of these tightening financial market conditions, which manifest as exchange rate depreciation and high inflationary pressures. It is pertinent to note that all these substantially put pressure on the deteriorating external debt situation in our constituent countries.  \nSub Saharan African and the ANSA Constituency  \n2. In SSA and specifically Angola, Nigeria and South Africa constituency, we are facing multiple crises ranging from climate change, rising debt, access to reliable and affordable energy, digitalization, affordable health care and pandemic preparedness, some of which have become existential threats. Indeed, to us they have become global challenges (threats) with cross border implications. Many of our countries suffered loss of decades of developmental gains in the areas of human capital including learning losses, while malnutrition levels became elevated in some of our countries on account of the pandemic and the current multiple crisis pervading the global economy. Additionally, the multiplier effects of lack of reliable and affordable energy to undertake basic manufacturing activities that can provide decent jobs for bulging youthful population has become an increasing source of concern to all. The recent publication of the IEAon SDG 7 which is energy access shows that today 770 million people live without access to electricity, mostly in Africa and Asia. The Covid-19 crisis put an end to several years of continued progress and worsened the already low energy purchasing power of households in developing countries. In Sub-Saharan Africa, the number of people without energy access increased in 2020 for the first time since 2013. SubSaharan Africa’s share of the global population without access to electricity rose to 77% from 74% even before the pandemic. Needless to talk about the growing challenges of food insecurity and malnutrition pervading the length and breadth of Sub-Saharan Africa.  \nWBG Evolution  \n3. It is in this regard, that we welcome progress in the Evolution process of the World Bank Group, which has remained a willing partner and we would wish it to remain faithful and more responsive. We therefore welcome the progress on the WBG Evolution Road","cbCaimmAtFruDTtq","https://ap.wps.com/l/cbCaimmAtFruDTtq","pdf",150927,3,1,4,"English","en",105,"# Global economic Context\n## Sub Saharan African and the ANSA Constituency\n## WBG Evolution","[{\"question\":\"What global conditions does the statement emphasize at the time of the meeting?\",\"answer\":\"It highlights subdued global growth projections, inflation-fighting interest rate hikes in advanced economies, and spillovers that contribute to exchange-rate depreciation and high inflation pressures.\"},{\"question\":\"Which crises in Sub-Saharan Africa are identified as existential threats?\",\"answer\":\"The statement points to climate change, rising debt, limited access to reliable and affordable energy, digitalization challenges, affordable health care, and pandemic preparedness, alongside worsening food insecurity and malnutrition.\"},{\"question\":\"How does the statement view the World Bank Group’s Evolution process?\",\"answer\":\"It welcomes progress on the WBG Evolution Roadmap, endorses enhancing the mission and operating model, and encourages delivery aligned with SDG goals and the needs of clients and shareholders.\"}]","Statement by H.E. Enoch Godongwana at the 107th Meeting of the Development Committee - April 12, 2023 - Submission | PDF",1784483959,10,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":29},"statement-by-he-enoch-godongwana-at-the-107th-meeting-of-the-development-committee-april-12-2023-submission","",{"@graph":37,"@context":85},[38,53,68],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,51],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":20},"https://docshare.wps.com/document/research-report/",{"item":52,"name":13,"@type":44,"position":22},"https://docshare.wps.com/document/statement-by-he-enoch-godongwana-at-the-107th-meeting-of-the-development-committee-april-12-2023-submission/110113/",{"url":52,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":24,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":42,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What global conditions does the statement emphasize at the time of the meeting?","Question",{"text":75,"@type":76},"It highlights subdued global growth projections, inflation-fighting interest rate hikes in advanced economies, and spillovers that contribute to exchange-rate depreciation and high inflation pressures.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"Which crises in Sub-Saharan Africa are identified as existential threats?",{"text":80,"@type":76},"The statement points to climate change, rising debt, limited access to reliable and affordable energy, digitalization challenges, affordable health care, and pandemic preparedness, alongside worsening food insecurity and malnutrition.",{"name":82,"@type":73,"acceptedAnswer":83},"How does the statement view the World Bank Group’s Evolution process?",{"text":84,"@type":76},"It welcomes progress on the WBG Evolution Roadmap, endorses enhancing the mission and operating model, and encourages delivery aligned with SDG goals and the needs of clients and shareholders.","https://schema.org",{"og:url":52,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,134],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":47,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":47,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":47,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":47,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":30,"doc_module":4,"doc_module_name":47,"category_name":132,"show_sort_weight":30,"slug":133},"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":47,"category_name":136,"show_sort_weight":106,"slug":137},19,"General","general"]