[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111721-en":3,"doc-seo-111721-105":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},111721,1099514067415,"Rowan","https://ap-avatar.wpscdn.com/avatar/100002539d78ffe74a7?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779092875211072502",8,"Research & Report","Statement by H.E. Fernando Haddad - 112th Meeting of the Development Committee - October 16, 2025","Statement by H.E. Fernando Haddad, Minister of Finance of Brazil, delivered on behalf of multiple countries at the 112th Meeting of the Development Committee on October 16, 2025. The statement calls for strengthened international cooperation and multilateralism amid trade tensions, geopolitical fragmentation, violent conflicts, high interest rates, and worsening debt vulnerabilities. It reaffirms support for the World Bank Group, emphasizing jobs, climate action, social inclusion, industrial policy, critical minerals value chains, digital transformation, and measures to reduce inequality through labor regulation, minimum wages, and progressive taxation.","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 TWELFTH MEETING WASHINGTON, DC – OCTOBER 16, 2025  \nDC/S/2025-0058 October 16, 2025  \nStatement by  \nH.E. Fernando Haddad  \nMinister of Finance  \nBrazil  \nOn behalf of Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname, and Trinidad and Tobago  \nStatement by  \nH.E. Fernando Haddad  \nMinister of Finance  \nBrazil  \non behalf of Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname, and Trinidad and Tobago  \n112th Meeting of the Development Committee  \nOctober 16, 2025  \nWashington, DC  \nThe global economy stands at a critical juncture, confronted by a convergence of challenges that require strengthening international cooperation and multilateralism. Heightened trade tensions are inflicting job losses globally, while the World Bank sharpens its strategic focus on creating jobs. Persistent geopolitical and geoeconomic fragmentation and the proliferation of violent conflicts across regions further destabilize markets and communities, weakening our collective ability to fight hunger, poverty, climate change and inequalities. Compounding these issues, persistently high interest rates are constraining economic activity, intensifying debt vulnerabilities across many developing countries and amplifying uncertainty. These adversities have tangible impacts on investor confidence and directly limit our ability to generate meaningful job opportunities.  \nThe Bretton Woods system was established in the aftermath of World War II with the objective of reconstructing economies and fostering prosperity through the promotion of stable trade. Achieving this goal required monetary and exchange rate stability, leading to the creation of a Fund to provide short-term financing and a Bank to support long-term financing for reconstruction and development. Its architects understood that lasting prosperity required both global stability and ample policy space for sovereign nations to pursue full employment at home, therefore preventing the destructive cycles of the interwar period. We reiterate our commitment to the World Bank Group as an essential pillar of multilateralism and recognize its vital role in fostering collective solutions for development through dialogue, including among parties with differing perspectives.  \nThe Bank has adapted over time in response to challenges, and has evolved thoughtfully to address the multifaceted realities of our time. Increasingly severe and frequent droughts, floods, typhoons, and wildfires are affecting livelihoods—especially the poorest populations—and posing challenges to economic growth in small Caribbean states as well as in the medium and large economies of the Andes and the southern cone of Latin America. Therefore, climate change is a matter that requires urgent global action. It is important to emphasize that the Bank’s mission of ending poverty on a livable planet remains relevant, and we continue encouraging the Bank to promote shared solutions to global challenges with the understanding that social inclusion, economic growth and environmental policies must be necessarily integrated.  \nAs the World Bank elevates its focus on jobs, continued global inequality, the prevalence of low-quality jobs, and informal employment—especially in Latin America and the Caribbean—indicate that market forces alone, or relying solely on natural resources, are insufficient to advance the jobs agenda and development objectives. Because the labor market reflects the productive structure of an economy, the Bank must be prepared to help countries develop their own industrial policies that promote high-quality jobs, which in turn depend on the structural transformation towards activities with higher productivity and techn","cbCaijAqRJ3kVlKJ","https://ap.wps.com/l/cbCaijAqRJ3kVlKJ","pdf",191238,1,5,"English","en",105,"# Overview and global context\n## Economic pressures and development challenges\n# Bretton Woods and the Bank’s role\n## Multilateralism and policy space\n# Jobs, inequality, and labor market transformation\n## Health, education, skills, and industrial policies\n# Climate, natural resources, and technology\n## Critical minerals and artificial intelligence impacts\n# Social inclusion and policy instruments\n## Labor standards, minimum wages, and tax progressivity","[{\"question\":\"What major global challenges does the statement highlight?\",\"answer\":\"It highlights heightened trade tensions causing job losses, geopolitical fragmentation and violent conflicts destabilizing markets, persistent high interest rates constraining activity, and debt vulnerabilities that reduce investor confidence.\"},{\"question\":\"How does the statement describe the World Bank Group’s purpose and evolution?\",\"answer\":\"It reiterates commitment to the World Bank Group as an essential pillar of multilateralism and stresses that the Bank has adapted over time to address evolving, multidimensional realities, including development and stability.\"},{\"question\":\"What policy areas does the statement connect to creating high-quality jobs?\",\"answer\":\"It links high-quality jobs to structural transformation, country-specific opportunities, and integrated work across health, education and skills, energy transition, critical minerals, digital transformation, water and sanitation, and environmental preservation and 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major global challenges does the statement highlight?","Question",{"text":74,"@type":75},"It highlights heightened trade tensions causing job losses, geopolitical fragmentation and violent conflicts destabilizing markets, persistent high interest rates constraining activity, and debt vulnerabilities that reduce investor confidence.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement describe the World Bank Group’s purpose and evolution?",{"text":79,"@type":75},"It reiterates commitment to the World Bank Group as an essential pillar of multilateralism and stresses that the Bank has adapted over time to address evolving, multidimensional realities, including development and stability.",{"name":81,"@type":72,"acceptedAnswer":82},"What policy areas does the statement connect to creating high-quality jobs?",{"text":83,"@type":75},"It links high-quality jobs to structural transformation, country-specific opportunities, and integrated work across health, education and 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