Statement by H.E. Sergio Massa - Minister of Economy Argentina - 106th Meeting of the Development Committee - October 14, 2022 - Policy statement on development financing, food/energy insecurity, and resilience

Jul 19, 2026

Statement by H.E. Sergio Massa addresses overlapping global crises—pandemic, climate impacts, and the fallout from the war in Ukraine—and their intensified effects on developing countries. It highlights worsening poverty in middle-income countries and urges coordinated national and multilateral action aligned with the World Bank Group’s twin goals and the SDGs. The statement calls for a medium-term engagement strategy, long-term affordable financing, and support for food and energy security, climate resilience, sustainable technology transfer, and international tax cooperation.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

Introduction

Facing food and energy insecurity

Building resilience to climate change and reducing carbon footprint

Fiscal stress, inflation, and international tax cooperation

Public Disclosure Authorized Public Disclosure Authorized DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors ofthe Bank and the Fund on the Transfer of Real Resources to Developing Countries) ONE HUNDRED AND SIXTH MEETING WASHINGTON, DC – OCTOBER 14, 2022 DC/S/2022-0061 October 14, 2022 Statement by H.E. Sergio Massa Minister of Economy Argentina On behalf of Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay Statement by H.E. Sergio Massa Minister of Economy Argentina On behalf of Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay 106th Meeting of the Development Committee October 14, 2022 Washington, DC Introduction The world is going through overlapping and successive crises (pandemic, climate, social) that are having a significant impact on developing countries. The fallout from the war in Ukraine is already being felt strongly by vulnerable people around the planet. Higher risks of global recession, supply-chains disruptionsand further monetary tightening in advanced economies could create additional external shocks. The conclusions of the World Bank and IMF Development Committee documents are clear. Poverty has grown in middle-income countries (MICs) more than anywhere else on the planet, and Latin America and the Caribbean was the region hardest hit by the pandemic. Those most affected have a wider gap to close, and it is our responsibility to work together to address these reversals in global and regional development before it is too late. In 1990, most of the poor lived in low-income countries (LICs) . Today, the majority live in MICs, home to over 75% of the world’s poor population. To address these challenges and build more inclusive societies that will contribute to global peace and stability, we must use all policy tools at the national, regional, and international levels in a coordinated, decisive, and innovative way. Governments and multilateral institutions need to strengthen cooperation to achieve the World Bank Group’s twin goals of ending extreme poverty and promoting shared prosperity, as well as the Sustainable Development Goals (SDGs) . To achieve these high-end objectives, it’s fundamental to deepen the dialogue among all member countries, enhance the country-based model, and pay special attention to MICs. Therefore, we call the World Bank Group (WBG) to develop a medium-term strategy of engagement with MICs that provides further support through development of long term and affordable financing, knowledge and technology transfer, and capacity building to promote sustainable and inclusive growth. We have a duty to sustain post-pandemic economic growth and employment recovery in this difficult international context. Facing food and energy insecurity The combination of the Covid-19 pandemic, the volatility in commodity markets exacerbated by the war, and the long-standing obstacles in global agriculture trade and food systems have deepened food insecurity across the world to alarming levels. As a producer and exporter of food, our countries reaffirm their commitment to fulfill its role as suppliers of healthy and quality food to the world and thereby contribute towards world food security, even during the most challenging times. We believe that to find a long-term solution to the problem of food security and achieve the SDGs, including zero hunger, a more transparent, equitable, and predictable international trading system for agricultural products is today more necessary than ever. Recent restrictions and reductions in the production and trade of fertilizers, grains and fuels have resulted in a new shortage of supply and higher prices of food at the global level, aggravating the previous situation. Countries can tackle the food and energy crises in ways that contribute to efficiency, shared prosperity, and sustainability. Removing tariff and non-tariff barriers to trade for food, particularly in developed economies,

FAQs

Why does the statement emphasize the impact of multiple overlapping crises on developing countries?

It notes that pandemic, climate, and social crises, plus the war in Ukraine, increase risks such as recession, supply-chain disruptions, and tighter monetary conditions, creating additional external shocks for vulnerable countries.

What medium-term actions does the statement call for regarding middle-income countries?

It calls on the World Bank Group to develop a medium-term engagement strategy providing further support through long-term affordable financing, knowledge and technology transfer, and capacity building.

How does the statement propose addressing food and energy insecurity?

It highlights the need for a transparent, equitable, and predictable trading system for agricultural products, reduction of tariff and non-tariff barriers, trade reform progress, and adoption/transfer of environmentally sustainable technologies.

Jul 19, 2026

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