[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110246-en":3,"doc-seo-110246-105":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},110246,16904993612988,"Olivia Brown","https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd",8,"Research & Report","Statement by H.E. Mario Marcel - 108th Meeting of the Development Committee - October 12, 2023","Statement by H.E. Mario Marcel, Chilean Minister of Finance, presented on behalf of Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay at the 108th meeting of the Development Committee on October 12, 2023 in Marrakech, Morocco. The statement expresses solidarity with Morocco after the earthquake and analyzes global crises affecting recovery: inflation, reduced growth, impacts of the Ukraine invasion, high interest rates and tight fiscal conditions. It highlights Latin America and the Caribbean challenges, supports transforming the World Bank into a more agile and well-resourced multilateral development bank, and calls for concessional financing, reforms aligned to mission and vision, and financial model measures that preserve AAA rating and lending affordability.","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 EIGHTH MEETING MARRAKECH, MOROCCO – OCTOBER 12, 2023  \nDC/S/2023-0040 October 12, 2023  \nStatement by  \nH.E. Mario Marcel  \nMinister of Finance  \nChile  \nOn behalf of Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay  \nStatement by  \nH.E. Mario Marcel  \nMinister of Finance  \nChile  \nOn behalf of Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay 108th Meeting of the Development Committee  \nOctober 12, 2023  \nMarrakech, Morocco  \nWe would like to express our solidarity with the people and Government of Morocco and offer our condolences to the families of the earthquake victims. We thank the Government of Morocco for its hospitality and for hosting the Annual Meetings in these challenging circumstances.  \nThe global economy is experiencing multiple crises, and it is still recovering from the economic and financial effects of the Covid-19 pandemic. Higher inflation, reduced growth, the impact of the invasion of Ukraine, high interest rates, and tight fiscal conditions are limiting the ability of countries to recover fast and in a sustainable manner, affecting most vulnerable populations and largely setting back poverty reduction efforts. Additional challenges related to food insecurity, limited access to energy and clean water, a lack of social protection coverage and an increase in climate related crises are affecting all countries, but especially developing economies, making economic growth more difficult to achieve, and most importantly, to sustain.  \nThis is the case for Latin America and the Caribbean (LAC), a region that is heterogenous but mostly composed of Middle-Income Countries (MICs). High poverty rates, gaps in access to quality public services, large inequality and labor informality, and high debt burdens are unresolved problems that need urgent solutions. According to the Economic Commission for Latin America and the Caribbean (ECLAC, Economic Survey September 2023), economic growth in the region is expected to average 1.7% in 2023. This growth rate will mark the end of a decade in which the region’s annual growth rate has averaged only 0.8%, an even worse performance than during the “lost decade” of the 1980s. This low growth will not allow for the creation of quality jobs and strong institutions, nor will it help generate the necessary fiscal space to address the impact of global challenges.  \nRecognizing this difficult situation, our constituency is fully engaged in finding ways to make the World Bank (WB) a partner with better knowledge tools, higher financial capacity and fit for purpose to promote resilience, sustainable growth, and economic stability to accelerate the path to reduce poverty and inequality and increase shared prosperity in all developing economies, including LICs, MICs and UMICs.  \nOver the past year, Executive Directors and WB Management have worked tirelessly together to transform  \nthe WB into a more agile, effective, and well-resourced Multilateral Development Bank (MDB),  \ncapable of responding to the unprecedented challenges facing developing countries and the global community. Throughout this process, the WB has rightly recognized the need to move forward efficiently and decisively with a more ambitious agenda for development. In this respect, we welcome the recognition of additional global challenges (affordable energy access; food and nutrition security; water security and access; enabling digitalization; and protecting biodiversity and nature), besides climate change, fragility, and pandemic prevention, as it better captures the significant difficulties faced by our economies. In order to overcome them, higher volumes of concessional financing, available to all IBRD countries, will be key.  \nConsistent with the reforms needed and t","cbCaibUhiLIoxQHl","https://ap.wps.com/l/cbCaibUhiLIoxQHl","pdf",179073,1,5,"English","en",105,"# Opening remarks and solidarity\n## Earthquake condolences and hosting of Annual Meetings\n# Global and regional economic context\n## Impact of multiple crises and recovery limits\n## Latin America and the Caribbean growth, poverty, inequality\n# World Bank transformation and strategic direction\n## Agility, effectiveness, resources and development agenda\n## Additional global challenges and concessional financing\n# Vision, mission, and operational/financial model reforms\n## Enhancing mission-vision alignment and serving all clients\n## Capital Adequacy Framework, BSO and lending capacity\n# Requests and forward-looking commitments\n## Preserve AAA rating and Preferred Creditor Treatment\n## Avoid higher lending costs and remain competitive\n## Endorse collaborative work","[{\"question\":\"Why does the statement emphasize solidarity with Morocco?\",\"answer\":\"It expresses solidarity with the people and Government of Morocco and offers condolences to families of earthquake victims. It also thanks Morocco for hospitality in hosting the Annual Meetings under challenging circumstances.\"},{\"question\":\"What macroeconomic factors are cited as limiting recovery worldwide?\",\"answer\":\"The statement points to higher inflation, reduced growth, the impact of the invasion of Ukraine, high interest rates, and tight fiscal conditions. It adds that food insecurity, limited energy and clean water access, weak social protection, and climate-related crises further constrain recovery, especially in developing economies.\"},{\"question\":\"What World Bank reforms and financing measures are supported?\",\"answer\":\"The statement supports transforming the World Bank into a more agile, effective, and well-resourced multilateral development bank. It welcomes additional global challenges recognition and highlights the importance of higher concessional financing for IBRD countries, alongside capital and lending capacity measures such as those under the Capital Adequacy Framework.\"}]",1784484547,13,{"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-mario-marcel-108th-meeting-of-the-development-committee-october-12-2023","",{"@graph":35,"@context":84},[36,53,67],{"@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":52},"https://docshare.wps.com/document/statement-by-he-mario-marcel-108th-meeting-of-the-development-committee-october-12-2023/110246/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":61,"encodingFormat":60,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":4},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"Why does the statement emphasize solidarity with Morocco?","Question",{"text":74,"@type":75},"It expresses solidarity with the people and Government of Morocco and offers condolences to families of earthquake victims. It also thanks Morocco for hospitality in hosting the Annual Meetings under challenging circumstances.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"What macroeconomic factors are cited as limiting recovery worldwide?",{"text":79,"@type":75},"The statement points to higher inflation, reduced growth, the impact of the invasion of Ukraine, high interest rates, and tight fiscal conditions. It adds that food insecurity, limited energy and clean water access, weak social protection, and climate-related crises further constrain recovery, especially in developing economies.",{"name":81,"@type":72,"acceptedAnswer":82},"What World Bank reforms and financing measures are supported?",{"text":83,"@type":75},"The statement supports transforming the World Bank into a more agile, effective, and well-resourced multilateral development bank. It welcomes additional global challenges recognition and highlights the importance of higher concessional financing for IBRD countries, alongside capital and lending capacity measures such as those under the Capital Adequacy Framework.","https://schema.org",{"og:url":51,"og:type":86,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":88,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":91},[92,96,100,104,108,113,118,121,126,129,133],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":93,"show_sort_weight":94,"slug":95},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":97,"show_sort_weight":98,"slug":99},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":101,"show_sort_weight":102,"slug":103},"Exam",70,"exam",{"id":21,"doc_module":4,"doc_module_name":45,"category_name":105,"show_sort_weight":106,"slug":107},"Comic",60,"comic",{"id":109,"doc_module":4,"doc_module_name":45,"category_name":110,"show_sort_weight":111,"slug":112},6,"Technology",50,"technology",{"id":114,"doc_module":4,"doc_module_name":45,"category_name":115,"show_sort_weight":116,"slug":117},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":119,"slug":120},30,"research-report",{"id":122,"doc_module":4,"doc_module_name":45,"category_name":123,"show_sort_weight":124,"slug":125},9,"Religion & Spirituality",20,"religion-spirituality",{"id":124,"doc_module":4,"doc_module_name":45,"category_name":127,"show_sort_weight":124,"slug":128},"World Cup","world-cup",{"id":130,"doc_module":4,"doc_module_name":45,"category_name":131,"show_sort_weight":130,"slug":132},10,"Lifestyle","lifestyle",{"id":134,"doc_module":4,"doc_module_name":45,"category_name":135,"show_sort_weight":21,"slug":136},19,"General","general"]