[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110108-en":3,"doc-seo-110108-105":30,"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":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":11},110108,687197100911,"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. Nadia Calvino Santamaría - 107 Meeting of the Development Committee - Key Messages on World Bank Adaptation","Statement by H.E. Nadia Calvino Santamaría at the 107th Meeting of the Development Committee on April 12, 2023 in Washington, DC. The remarks assess a fragile global economy marked by persistent price pressures, tighter monetary policy, fiscal constraints, elevated debt vulnerabilities, and renewed financial-sector turmoil. They emphasize worsening poverty and inequality, rising food insecurity, learning losses, human capital impacts, and high levels of migration and displacement. The statement calls for adapting the World Bank to strengthen poverty reduction and inequality reduction with greater development impact.","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 SEVENTHMEETINGWASHINGTON,DC-APRIL12,2023  \nDC/S/2023-0013  \nApril 12,2023  \n# Statement by\n\nH.E.Nadia Calvino SantamaríaFirst Vice President and Minister for Economyand Digitalization  \nSpain  \nOn behalf of Costa Rica,EI Salvador,Guatemala,Honduras,Mexico,Nicaragua,and The Kingdom of Spain  \nStatement by  \nH.E.Nadia Calvino SantamariaFirst Vice President and Minister for Economyand Digitalization  \nSpain  \nOn behalf of Costa Rica,EI Salvador,Guatemala,Honduras,Mexico,Nicaragua,and The Kingdom of Spain  \n# 107 Meeting of the Development Committee\n\nApril 12,2023  \nWashington,DC  \nIn the face of increased uncertainty,the global economy is proving more resilient than expected.The worstmacroeconomic outcomes contemplated in the Fall have not materialized so far,but the situation continuesto be fragile,especially for the most vulnerable countries.The global financial safety net has helped ensurefinancial stability as well as support to the most vulnerable countries,however,successive shocks areweighing on the recovery and macro-financial stability,especially,Russia's war against Ukraine,whichcontinues to inflict economic and humanitarian losses for the global economy as a whole.Inflation hasmoderated somewhat,but underlying price pressures remain sticky.Furthermore,tighter monetary policystances,reduced fiscal space,as well as elevated debt vulnerabilities in vulnerable countries pose somerisks in the context of increasing borrowing costs.In addition,and very recently,turmoil in the financialsector has introduced additional uncertainty.  \nOnce more,the situation is extremely difficult for many of the World Bank's clients,both low-incomecountries (LICs)and middle-income countries(MICs),not only in the short term but also with a longer-term perspective:indeed,existing challenges hinder their development opportunities and make theachievement of the Sustainable Development Goals and of our twin goals an increasingly difficultendeavor:poverty is increasing,food insecurity is worsening,learning losses are large,human capital hassuffered,migration and forced displacement are in high-record,and inequality has risen worldwide.  \nTherefore,on this occasion,our Development Committee meeting focuses on the need of the World Bankto adapt to the current circumstances to better assist all its clients with greater impact on development andon reducing poverty and inequalities.  \nWe see this process as a unique opportunity to better position the World Bank Group to fulfil its mission.But this discussion is framed into a much broader debate on how to strengthen our global financial safetynet and reshape our International Financial Architecture to make it fit for purpose.In today's context,progress achieved on poverty reduction and development gains has seen a reversal in many of the Emergingand Developing Countries in which a lasting scar is evident as a result.  \nThis process begun a few months ago with the World Bank Group-among the Multilateral DevelopmentBanks -taking the lead.I am happy to see that already,in these Spring Meetings,we are seeing progressin several important areas and hope that much more can be delivered for the next Annual Meetings inMarrakech.In my view,the discussions are going in the right direction,but we still have a lot to do in thenext months to agree on a final package.  \nTherefore,on behalf of the constituency I represent,let me convey four key messages that are critical toreshape the World Bank with a recipe for success.  \nFirst,the World Bank is a development institution and development should continue to be its focus.However,in the XXI century,realizing greater levels of development and ambitious goals of poverty andinequality reduction requires explicitly considering new global c","cbCaipt1EsDMTo1S","https://ap.wps.com/l/cbCaipt1EsDMTo1S","pdf",325104,4,1,3,"English","en",105,"# 107 Meeting of the Development Committee\n## Economic context and key challenges\n## Need to adapt to current circumstances\n## Four key messages to reshape the World Bank","[{\"question\":\"What economic conditions does the statement highlight?\",\"answer\":\"It describes increased uncertainty and fragile macroeconomic conditions, with persistent underlying inflation pressures, reduced fiscal space, elevated debt vulnerabilities, and additional uncertainty from financial-sector turmoil.\"},{\"question\":\"Why does the statement emphasize the need to adapt the World Bank?\",\"answer\":\"It argues that many clients face extreme difficulty, and that existing challenges hinder development progress and make achieving the Sustainable Development Goals and twin goals harder.\"},{\"question\":\"What four key messages does the speaker convey to reshape the World Bank?\",\"answer\":\"The statement calls for keeping development as the Bank’s focus while addressing new global challenges; ensuring an attractive value proposition for middle-income countries; mobilizing substantially more private capital through integrated reforms; and fostering a more collaborative and complementary approach.\"}]","Statement by H.E. 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