[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111701-en":3,"doc-seo-111701-105":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":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":28},111701,1099514067415,"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. Jim Chalmers, MP - 112th Meeting of the Development Committee - October 16, 2025 - Global economy","Statement by H.E. Jim Chalmers, MP, Treasurer of Australia, presented for the 112th Development Committee meeting on October 16, 2025, on behalf of a constituency including multiple Pacific and regional countries. The statement reviews uneven global recovery, geopolitical risks, and the need for cooperation and humanitarian support. It calls for development impact focus amid ODA fiscal pressure, highlights operational efficiency and effectiveness, and supports job creation, small states flexibility, regional approaches, and climate-related priorities.","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/2025-0043 October 16, 2025  \nStatement by  \nH.E. Jim Chalmers, MP  \nTreasurer of Australia  \nAustralia  \nOn behalf of the constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tuvalu, and Vanuatu  \nStatement by  \nH.E. Jim Chalmers, MP  \nTreasurer of Australia  \nAustralia  \nOn behalf of the constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tuvalu, and Vanuatu  \n112th Meeting of the Development Committee  \nOctober 16, 2025  \nWashington, DC  \nGlobal economy  \nThe world economy continues to navigate a complex landscape of uneven recovery and emerging economic, financial and geopolitical risks. Notwithstanding, the global economy has remained resilient, but growth has been uneven and significant downside risks remain. Trade patterns and deeply embedded global supply chains remain vulnerable to quickly changing policies and responses creating economic uncertainty and their full effects remaining unclear, especially in relation to business investment decisions.  \nThe ongoing effects of geopolitical instability across multiple regions—including Russia’s war in Ukraine and the situation in the Middle East—continue to pose downside risks to the outlook. We continue to condemn Russia’s illegal invasion of Ukraine, and we support all meaningful efforts towards a just and enduring peace for Ukraine, and for broader stability in Europe. Along with the broader international community, we support arrangements for a ceasefire and hostage deal in Gaza, as well as the rapid, safe, and unimpeded flow of life-saving humanitarian assistance to civilians, as required by international law. We emphasise the need for global cooperation to address our shared challenges and to safeguard global peace and security.  \nIn a context of fiscal pressure to reduce official development assistance (ODA), we must ensure the World Bank Group remains focused on delivering development impact in line with its vision and mission. Contributing to the Bank, including through IDA21 and IBRD innovative financing instruments, continues to be a smart way to amplify the impact of our scarce collective fiscal resources.  \nOperational efficiency and effectiveness  \nWe commend the Bank for its ongoing work to improve operational efficiency. We welcome the reduction in average project preparation time from 19 to 12.8 months in just two years, while reaching record commitment levels and disbursements at double the pre-pandemic average. However, it is crucial that efficiency does not come at the cost of effectiveness, which is why a balanced but comprehensive scorecard is an essential monitoring mechanism.  \nThe World Bank’s approval of the first project under its Full Mutual Relance Framework with the Asian Development Bank – the Pacific Healthy Islands Transformation Project – is an important milestone towards better harmonisation and collaboration across multilateral development banks. As our constituency members are also members ofthe ADB, we see great potential to reap the benefits of better, faster and more tailored development solutions. Reduced duplication and streamlined engagement will benefit our capacityconstrained small state members in particular.  \nJobs agenda  \nWe support the World Bank Group’s focus on job creation. Building human capital through the creation of quality jobs is central to sustainable development and poverty reduction. We encourage th","cbCaiha5Q4pLLgak","https://ap.wps.com/l/cbCaiha5Q4pLLgak","pdf",151404,1,4,"English","en",105,"# Global economy\n## Operational efficiency and effectiveness\n## Jobs agenda\n## Small states strategy\n## Climate change","[{\"question\":\"What global economic conditions and risks does the statement emphasize?\",\"answer\":\"It highlights uneven recovery and ongoing downside risks driven by economic, financial, and geopolitical factors. It also notes vulnerabilities in trade patterns and global supply chains as policy responses change quickly.\"},{\"question\":\"How does the statement balance efficiency with development effectiveness?\",\"answer\":\"It welcomes improved operational efficiency, including reduced project preparation times, while stressing that efficiency must not undermine effectiveness. A balanced, comprehensive scorecard is presented as the essential monitoring mechanism.\"},{\"question\":\"What priorities are outlined for jobs and procurement?\",\"answer\":\"The statement supports the World Bank Group’s job creation focus and the building of human capital through quality jobs. It also welcomes procurement strengthening via a 30% local labour cost rule to enhance domestic labour markets.\"}]",1784491332,10,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":27},"statement-by-he-jim-chalmers-mp-112th-meeting-of-the-development-committee-october-16-2025-global-economy","",{"@graph":35,"@context":84},[36,52,67],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":21},"https://docshare.wps.com/document/statement-by-he-jim-chalmers-mp-112th-meeting-of-the-development-committee-october-16-2025-global-economy/111701/",{"url":51,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"inLanguage":23,"description":14,"dateModified":60,"datePublished":61,"encodingFormat":59,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":40,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-07-24","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":20},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"What global economic conditions and risks does the statement emphasize?","Question",{"text":74,"@type":75},"It highlights uneven recovery and ongoing downside risks driven by economic, financial, and geopolitical factors. It also notes vulnerabilities in trade patterns and global supply chains as policy responses change quickly.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement balance efficiency with development effectiveness?",{"text":79,"@type":75},"It welcomes improved operational efficiency, including reduced project preparation times, while stressing that efficiency must not undermine effectiveness. A balanced, comprehensive scorecard is presented as the essential monitoring mechanism.",{"name":81,"@type":72,"acceptedAnswer":82},"What priorities are outlined for jobs and procurement?",{"text":83,"@type":75},"The statement supports the World Bank Group’s job creation focus and the building of human capital through quality jobs. 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