[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111682-en":3,"doc-seo-111682-105":29,"detail-sidebar-cat-0-en-105":91},{"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":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},111682,1374391975076,"Riley","https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051",8,"Research & Report","Statement by Janet Yellen - 108th Meeting of the Development Committee - October 12, 2023 - Remarks","Statement by Janet Yellen, Secretary of the Treasury of the United States, at the 108th Meeting of the Development Committee on October 12, 2023, in Marrakech, Morocco. The remarks extend condolences for the Morocco and Libya earthquake and floods, assess the global economic outlook amid growth and declining headline inflation, and highlight uncertainty driven by COVID-19 disruption, climate-related extreme events, fragility and conflict, and Russia’s war against Ukraine. The statement outlines U.S. support for reforms to multilateral development banks to address global challenges, strengthen concessionality and lending capacity, and reduce poverty through coordinated evolution of the MDB system.","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/2023-0049 October 12, 2023  \nStatement by  \nJanet Yellen Secretary of the Treasury  \nUnited States  \nU.S. TREASURY DEPARTMENT OFFICE OF PUBLIC AFFAIRS  \nStatement by  \nJanet Yellen  \nSecretary of the Treasury  \nUnited States  \n108th Meeting of the Development Committee  \nOctober 12, 2023  \nMarrakech, Morocco  \nThe United States extends its deepest condolences to the people of Morocco and Libya, who have lost loved ones and now face the devastating impacts of once-in-a-century earthquake and floods. We stand by the governments of Morocco and Libya as they take steps to recover from the destruction these disasters have wrought.  \nAs we gather for these Annual Meetings – for the first time in 50 years on the African continent – we are aware of two realities. On the one hand, the global economy remains in a better place than many predicted, with growth outperforming expectations, and annual headline inflation falling in many of the major economies, including the United States. At the same time, the global economy faces significant uncertainty. Major shocks emanating from global challenges—the economic disruption from COVID-19; catastrophic, climate change-driven extreme weather events; and fragility and conflict in all parts of the world—have eroded development gains and disproportionately impacted the poorest and most vulnerable people and countries. Russia’s illegal and unjustifiable war of aggression against Ukraine has caused a tragic loss of life, destruction of property, and has exacerbated global economic challenges by destabilizing energy and food prices. We call on Russia to swiftly end this unjust war, which would help to rapidly reverse some of these trends and set the global economy on a more positive trajectory. The compounding effects of these shocks have taken a terrible toll in terms of lives lost and livelihoods disrupted, and contributed to rising extreme poverty, hunger, and slower economic growth. Further, their impacts have been more severe across emerging markets and developing countries, often in those countries that are already burdened by heightened debt vulnerabilities and have the least fiscal space to respond.  \nWe have undertaken important efforts over the last year to evolve the multilateral development banks (MDBs), starting with the World Bank, to better address global challenges, particularly climate change, pandemics, and fragility and conflict. Addressing such challenges is in the national interest of all countries;  \nmitigates risks to our collective economic outlook; and is integral to achieving poverty reduction and sustainable, inclusive, and resilient development.  \nThe United States is not alone in this undertaking. Beginning with the Development Committee last year at the Annual Meetings, there has been a broad coalition calling for bold and urgent evolution reforms. In the G20, the Paris Summit for a New Global Financing Pact, the Africa Climate Summit, and the Sustainable Development Goals (SDGs) Summit, the international community has also loudly and collectively voiced the importance of MDB evolution. Through these fora we have all recognized that addressing global challenges and achieving poverty reduction and inclusive economic growth are mutually reinforcing, and we must all work together to build an MDB system better equipped to respond.  \nIn the past year, shareholders and World Bank Management have worked together to advance the reforms that will enable the Bank to evolve to bring 21st century solutions to 21st century challenges. We have updated the Bank’s vision and mission to reflect that addressing global challenges is a core part of reducing poverty and boosting shared pr","cbCainrfo4RyVez8","https://ap.wps.com/l/cbCainrfo4RyVez8","pdf",255893,1,5,"English","en",105,"# Context and opening condolences\n## Global economic outlook and key shocks\n# U.S. support for MDB evolution\n## Reform goals and coalition for change\n# Bank reform measures and implementation requests\n## Lending capacity, concessionality, PCM reforms","[{\"question\":\"What events does the statement address in its opening remarks?\",\"answer\":\"It extends condolences to the people of Morocco and Libya after a once-in-a-century earthquake and floods, and expresses support for recovery efforts.\"},{\"question\":\"What are the main factors shaping the statement’s assessment of the global economy?\",\"answer\":\"The statement contrasts improved conditions such as growth outperforming expectations and falling headline inflation with substantial uncertainty from COVID-19 disruption, climate-driven extreme weather, fragility and conflict, and the destabilizing effects of Russia’s war against Ukraine.\"},{\"question\":\"What reforms to multilateral development banks does the statement emphasize?\",\"answer\":\"It highlights evolving MDBs to better address global challenges, including updated vision and mission, integrating global challenges into diagnostics and country engagement, establishing a concessionality framework, increasing lending capacity, and implementing reforms to mobilize private 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events does the statement address in its opening remarks?","Question",{"text":75,"@type":76},"It extends condolences to the people of Morocco and Libya after a once-in-a-century earthquake and floods, and expresses support for recovery efforts.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"What are the main factors shaping the statement’s assessment of the global economy?",{"text":80,"@type":76},"The statement contrasts improved conditions such as growth outperforming expectations and falling headline inflation with substantial uncertainty from COVID-19 disruption, climate-driven extreme weather, fragility and conflict, and the destabilizing effects of Russia’s war against Ukraine.",{"name":82,"@type":73,"acceptedAnswer":83},"What reforms to multilateral development banks does the statement emphasize?",{"text":84,"@type":76},"It highlights evolving MDBs to better address global challenges, including updated vision and mission, integrating global challenges into diagnostics and 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