[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110329-en":3,"doc-seo-110329-105":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},110329,4398048949847,"Eliana","https://ap-avatar.wpscdn.com/avatar/400002536579ef2da7f?_k=1778318612642679267",8,"Research & Report","Statement by Janet Yellen - 106th Meeting of the Development Committee","Statement by U.S. Treasury Secretary Janet Yellen at the 106th meeting of the Development Committee addresses the economic and humanitarian impact of Russia’s illegal war against Ukraine and the broader global spillovers. The statement emphasizes inflation pressures, food and energy disruptions, and the role of the IMF and World Bank in providing tailored policy advice, targeted financing, and technical support for low-income countries and other vulnerable economies. It highlights continued support for IMF trust facilities, debt distress and transparency, health and vaccine financing in Africa, pandemic prevention initiatives, and actions to reduce food insecurity through expanded emergency financing and global cooperation.","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 SIXTH MEETINGWASHINGTON,DC-OCTOBER 14,2022  \nStatement by  \nJanet YellenSecretary of the Treasury  \nUnited States  \nDC/S/2022-0060  \nOctober 14,2022  \n# U.S.TREASURY DEPARTMENT OFFICE OF PUBLIC AFFAIRS\n\nStatement by  \nJanet YellenSecretary of the Treasury  \nUnited States  \n# 106ᵗʰMeeting of the Development Committee\n\nOctober 14,2022  \nWashington,DC  \nThe United States remains resolute in its condemnation of Russia's illegal war against Ukraine,whichviolates international norms and the core tenets of the United Nations Charter.We urge Russia toimmediately end this needless war.We stand with the Ukrainian people and their government againstRussia's aggression and fraudulent attempts to annex parts of Ukraine.We continue to provide criticalmilitary and economic support to Ukraine in cooperation with bilateral and multilateral partners.Thiseconomic support includes debt service suspension from Ukraine's Group of Creditors through 2023,alongside financing from international financial institutions(IFIs)and direct bilateral aid.While theUkrainian people pay the highest price,Russia's actions also place immense pressure on a global economystill recovering from the scarring effects of the COVID-19 pandemic and on people well beyond Europe'sshores.The IMF and World Bank play unique roles in helping countries around the world respond to theseshocks while collaborating to provide unprecedented financing.  \nThe global economy was already dealing with supply and demand imbalances and elevated inflation priorto this war.The spillovers from Russia's war against Ukraine have increased food,fertilizer,and energyprices;further elevating inflation and increasing food insecurity in many countries.A price cap on Russianoil exports will help support stable energy prices and a steady flow of oil to energy markets in the shortterm.  \nThe challenges facing us are difficult and diverse.For many of us inflation is the key challenge,while someface both rising inflation and weakening growth,and others are buffeted by tighter financing conditionsand rising debt.Our appropriately different policies at this time are also contributing to currency movementsthat can cause spillovers and struggles in other countries.While our policies may differ,we must allaim atour shared goal of strong,sustainable,balanced,and inclusive growth.  \nIt is critical that IFIs provide tailored policy advice and targeted financing and technical support,alongsidecapacity development,to support low-income countries facing spillovers from Russia's war,the COVID-19 pandemic,and other shocks.To this end,I welcome continued efforts to further finance the IMF'sPoverty Reduction and Growth Trust(PRGT).The United States recently contributed $70 million to thePRGT's subsidy reserve account,and the Biden Administration continues to work with our Congress tolend up to $21 billion to the PRGT and the Resilience and Sustainability Trust(RST).I strongly supportthe IMF's work to operationalize the RST by the end of this year,including the health window,and urgecontinued collaboration with the World Bank on the careful design of its conditions.  \nWe are seeing a sharp rise in risks of debt distress among developing and emerging market economies.Iurge the IMF and World Bank to strengthen their collaboration on debt-related efforts,including promotingtransparency and best practices around complex types of borrowing such as collateralized debt.I amconcerned by the slow progress in resolving the first cases under the Common Framework.All creditorsneed to commit to improving the process,starting by concluding debt treatments for Chad and Zambia bythe end of this year.We should also consider expanding the Common Framework to include middle-incomecountries.The long esta","cbCaiucPhmW5OIjR","https://ap.wps.com/l/cbCaiucPhmW5OIjR","pdf",999398,1,5,"English","en",105,"# Statement by Janet Yellen\n## Global economic impacts of Russia’s war against Ukraine\n## Inflation, financing challenges, and policy priorities\n## IMF and World Bank support: tailored advice and financing\n## Poverty reduction trusts and resilience initiatives\n## Debt distress, the Common Framework, and transparency","[{\"question\":\"What does the statement say about the impact of Russia’s war against Ukraine on the global economy?\",\"answer\":\"It states that Russia’s actions violate international norms and that the spillovers have increased food, fertilizer, and energy prices, elevating inflation and worsening food insecurity across many countries.\"},{\"question\":\"How does the statement describe the IMF and World Bank’s role?\",\"answer\":\"It calls for tailored policy advice and targeted financing and technical support, including capacity development, to help low-income countries facing shocks from the war, the COVID-19 pandemic, and other crises.\"},{\"question\":\"What guidance does the statement provide on debt distress and the Common Framework?\",\"answer\":\"It urges stronger collaboration on debt-related efforts, including transparency and best practices, and asks creditors to improve the process by concluding debt treatments for Chad and Zambia by year-end.\"}]",1784484923,13,{"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-janet-yellen-106th-meeting-of-the-development-committee","",{"@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-janet-yellen-106th-meeting-of-the-development-committee/110329/",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},"What does the statement say about the impact of Russia’s war against Ukraine on the global economy?","Question",{"text":74,"@type":75},"It states that Russia’s actions violate international norms and that the spillovers have increased food, fertilizer, and energy prices, elevating inflation and worsening food insecurity across many countries.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement describe the IMF and World Bank’s role?",{"text":79,"@type":75},"It calls for tailored policy advice and targeted financing and technical support, including capacity development, to help low-income countries facing shocks from the war, the COVID-19 pandemic, and other crises.",{"name":81,"@type":72,"acceptedAnswer":82},"What guidance does the statement provide on debt distress and the Common Framework?",{"text":83,"@type":75},"It urges stronger collaboration on debt-related efforts, including transparency and best practices, and asks creditors to improve the process by 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