[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110664-en":3,"doc-seo-110664-105":29,"detail-sidebar-cat-0-en-105":89},{"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},110664,13056703019404,"Miles","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","Statement by H.E. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz - 105th Meeting of the Development Committee - April 22, 2022","Statement delivered by Malaysia’s Minister of Finance, H.E. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, representing a constituency of developing countries at the 105th Development Committee meeting (April 22, 2022, Washington, DC). It reviews the global economic outlook amid Ukraine-driven supply disruptions, inflation, energy and commodity price pressures, and COVID-19 uncertainty. The statement supports GRID priorities, urges swift action on the looming debt crisis via the G20 Common Framework, and calls for strengthened global pandemic prevention and health architecture while emphasizing debt resolution, transparency, and sustainability.","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 FIFTH MEETING WASHINGTON, DC – APRIL 22, 2022  \nDC/S/2022-0014 April 22, 2022  \nStatement by  \nH.E. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz Minister of Finance  \nMalaysia  \nRepresenting the Constituency of Brunei Darussalam, Fiji, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Singapore, Thailand, Tonga and  \nVietnam  \nStatement by  \nH.E. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz  \nMinister of Finance  \nMalaysia  \nRepresenting the Constituency of Brunei Darussalam, Fiji, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Singapore, Thailand, Tonga and Vietnam  \n105th Meeting of the Development Committee  \nApril 22, 2022  \nWashington, DC  \nGlobal Economic Outlook and World Bank Group Role  \nSeveral challenges have suppressed the global economy’s recovery this year. The situation in Ukraine has adversely affected supply chain, leading to disruptions and surging inflation, as well as higher energy and commodity prices. Current conditions, when combined with monetary tightening and on-going uncertainty surrounding new COVID-19 variants, may hinder the expected economic recovery. Despite the challenges, there are numerous opportunities to achieve a green, resilient, and inclusive recovery through the Green, Resilient and Inclusive Development (GRID) agenda.  \nIn this context, our Constituency commends the priorities raised in today’s Development Committee meeting. In the short term, addressing the looming debt crisis through swift and comprehensive multilateral action, particularly through the G20 Common Framework, is critical. Furthermore, the challenge of responding to the pandemic and compounding crisis require collaboration among all institutions in optimising resources and maximising assistance outreach to those in need. In the future, digitalization will be a powerful driver of the GRID agenda, and countries should be enabled to pursue it in a systematic and strategic manner. In this regard, the World Bank Group (WBG) and the International Monetary Fund (IMF) are critical in bringing the global community together to address short-term uncertainties and lay the foundation for stronger and more sustainable growth.  \nWBG’s Covid-19 Response  \nWe welcome the WBG’s COVID-19 Crisis Response, which will help less developed and developing countries in dealing with the effects of the pandemic while keeping an eye on long-term and sustainable development goals. In the context of multiple crises, the pandemic has amplified global inequalities, worsened conditions for the poor and vulnerable, and dampened growth prospects. These challenges require closer global cooperation, building on the historic pandemic response. We urge the WBG, in coordination with other MDBs and development partners, to maximise and leverage its resources, including policy advisory expertise. This is in particular in addressing the impact of the prolonged pandemic, especially among the most vulnerable groups, such as informal and low-skilled workers, women, and youth. We also urge the WBG, in collaboration with other international organisations, to continue to support initiatives to strengthen the global health architecture and establish a global prevention, preparedness, and response facility for future pandemics, with a focus on Low- and Middle-Income Countries (LICs and MICs) .  \nMaking Debt Work for Macroeconomic Stability  \nConcerning debt, we appreciate the Development Committee’s emphasis and urgency in addressing this issue. The resulting fiscal risks are unprecedented in light of rising inflation, slowing economic growth, and the long-term costs of climate change. We are fortunate that accommodating monetary conditions, Special Drawing Right (SDR) allocations, and the Debt Service Suspension Initiativ","cbCaimmnLzHVwUkp","https://ap.wps.com/l/cbCaimmnLzHVwUkp","pdf",158587,1,4,"English","en",105,"# Global Economic Outlook and World Bank Group Role\n## COVID-19 Response\n## Making Debt Work for Macroeconomic Stability\n## Debt Transparency and Sustainability","[{\"question\":\"What key challenges to the global economy does the statement highlight?\",\"answer\":\"It points to the Ukraine situation disrupting supply chains, driving higher inflation, and increasing energy and commodity prices. It also notes monetary tightening and uncertainty related to new COVID-19 variants.\"},{\"question\":\"What short-term actions does the statement call for regarding the debt crisis?\",\"answer\":\"It urges swift and comprehensive multilateral action through the G20 Common Framework, including support for debt resolution and measures to reduce the long-term debt burden to prevent widespread defaults.\"},{\"question\":\"How does the statement link digitalization and the GRID agenda?\",\"answer\":\"It says digitalization will be a powerful driver of the Green, Resilient, and Inclusive Development (GRID) agenda and that countries should pursue it in a systematic and strategic manner.\"}]",1784486493,10,{"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":84,"head_meta":86,"extra_data":88,"updated_unix":27},"statement-by-he-tengku-datuk-seri-utama-zafrul-tengku-abdul-aziz-105th-meeting-of-the-development-committee-april-22-2022","",{"@graph":35,"@context":83},[36,52,66],{"@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-tengku-datuk-seri-utama-zafrul-tengku-abdul-aziz-105th-meeting-of-the-development-committee-april-22-2022/110664/",{"url":51,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"inLanguage":23,"description":14,"dateModified":60,"datePublished":60,"encodingFormat":59,"isAccessibleForFree":61,"interactionStatistic":62},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":40,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":63,"interactionType":64,"userInteractionCount":4},"InteractionCounter",{"@type":65},"ViewAction",{"@type":67,"mainEntity":68},"FAQPage",[69,75,79],{"name":70,"@type":71,"acceptedAnswer":72},"What key challenges to the global economy does the statement highlight?","Question",{"text":73,"@type":74},"It points to the Ukraine situation disrupting supply chains, driving higher inflation, and increasing energy and commodity prices. It also notes monetary tightening and uncertainty related to new COVID-19 variants.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"What short-term actions does the statement call for regarding the debt crisis?",{"text":78,"@type":74},"It urges swift and comprehensive multilateral action through the G20 Common Framework, including support for debt resolution and measures to reduce the long-term debt burden to prevent widespread defaults.",{"name":80,"@type":71,"acceptedAnswer":81},"How does the statement link digitalization and the GRID agenda?",{"text":82,"@type":74},"It says digitalization will be a powerful driver of the Green, Resilient, and Inclusive Development (GRID) agenda and that countries should pursue it in a systematic and strategic manner.","https://schema.org",{"og:url":51,"og:type":85,"og:title":13,"og:site_name":57,"og:description":14},"article",{"robots":87,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":90},[91,95,99,103,108,113,118,121,126,129,132],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":92,"show_sort_weight":93,"slug":94},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":96,"show_sort_weight":97,"slug":98},"Literature",80,"literature",{"id":21,"doc_module":4,"doc_module_name":45,"category_name":100,"show_sort_weight":101,"slug":102},"Exam",70,"exam",{"id":104,"doc_module":4,"doc_module_name":45,"category_name":105,"show_sort_weight":106,"slug":107},5,"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":28,"doc_module":4,"doc_module_name":45,"category_name":130,"show_sort_weight":28,"slug":131},"Lifestyle","lifestyle",{"id":133,"doc_module":4,"doc_module_name":45,"category_name":134,"show_sort_weight":104,"slug":135},19,"General","general"]