[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110564-en":3,"doc-seo-110564-105":30,"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":21,"is_downloadable":21,"audit_status":21,"page_count":11,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},110564,1099514068035,"Ezra","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","WBG Governor's Statement No. 9 - October 14, 2022 - Statement by Nirmala Sitharaman","Governor Nirmala Sitharaman presents WBG Governor's Statement No. 9 dated October 14, 2022, focusing on global economic conditions and major risks. The statement highlights a slowdown in growth across advanced and emerging economies, rising inflation and commodity price pressures, and worsening downside factors linked to geopolitical uncertainty, supply-chain disruptions, capital outflows, and fragmentation risks. It emphasizes the need for restoring price stability, continued fiscal consolidation, and protecting vulnerable groups while addressing food and energy shocks.","Public Disclosure Authorized Public Disclosure Authorized  \nWBG Governor's Statement No. 9  \nOctober 14, 2022  \nStatement by the Hon. NIRMALA SITHARAMAN, Governor of the Fund and the Bank for INDIA  \nStatement by the Hon. Nirmala Sitharaman,  \nGovernor of the Fund and the Bank for India  \n1. We note with concern the slowing down of the global economy with growth projected to decline from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.6 percent in 2023. The slowdown is more pronounced in advanced economies with the USA recording a sequential contraction in the first half of 2022, the Euro area facing contraction in second half of 2022 and slow-down in China amid lockdowns on account of ‘zero covid policy’ and the growing crisis in its realty sector. The growth in emerging market and developing economies (EMDEs) is also expected to slow from 6.6 percent in 2021 to  \n3.7 percent in 2022 and 2023. India remains the only large economy with growth projection of above 6 percent for both 2022 and 2023.  \n2. Both advanced economies and EMDEs are dealing with high inflation, though of varying degrees. Global inflation is expected to rise from 4.7 percent in 2021 to 8.7 percent in 2022 but may decline to 6.4 percent in 2023 and 4.1 percent by 2024 as projected by the IMF. Inflationary pressures began to surface in advanced economies in 2021 and got further exacerbated with the geo-political uncertainty in 2022 which accentuated existing supply chain disruptions and resulted in unprecedented surge in commodity prices especially fuel and food. The uncertainty has weighed down on the economic outlook of EMDEs with growing import bills and repercussions for current account deficit. The low-income countries have to bear the brunt of the slowdown in growth and surge in commodity prices and many of them face threats of food insecurity which is partly due to climate related disruptions in agriculture sector in these  \ncountries.  \n3. A confluence of factors ranging from geo-political uncertainty to elevated inflation has exacerbated downside risks to global growth. Multi-decade-high inflation, partly an outcome of geopolitical disruptions, has led to aggressive normalization of monetary policies in advanced economies triggering the flight to safety. EMDEs face disorderly capital outflows with their currency markets under pressure from the appreciation of the US Dollar. Financing high CADs may be a major challenge for some of these  \ncountries. Medium-term outlook remains clouded with many downside risks. We are quite concerned by the prospects of fragmentation in the world economy further intensifying supply side constraints. With the regime of sanctions getting wider and deeper, the fragmentation in the financial systems can pose serious threats to international financial stability. A lot depends on the pace of policy normalization in the coming months and the trajectory of the conflict in Ukraine and its global spillovers, including high food and energy prices, and possibility of further pandemic-related supply disruptions.  \n4. Among the AEs, growth in US/Canada has slowed down while the LACs continue to recover though increasing headwinds are expected. Broad-based inflationary pressures and tightening financial conditions constitute the third economic shock after the shocks from pandemic and the conflict in Ukraine coming sequentially. With risks tilted to the downside, slower growth and entrenched inflation in coming years is likely to have socio-economic ramifications which call for appropriate policy response. We need to restore price stability , continue fiscal consolidation, and support the vulnerable sections of the society.  \n5. In the Euro area, growing spillovers from the geo-political tensions with Russia and record high energy prices have pushed prices up and reduced real incomes. High inflation and aggressive monetary policy tightening has impacted growth process and dampened domestic demand. A sharp growth slow-down is expecte","cbCaimQ6oOYCtVVU","https://ap.wps.com/l/cbCaimQ6oOYCtVVU","pdf",284229,4,1,"English","en",105,"# Global growth and outlook\n## Advanced economies and EMDEs\n# Inflation, commodity shocks, and macro risks\n## Inflation expectations and supply disruptions\n# Financing challenges and fragmentation risks\n## Capital flows, sanctions, and stability threats\n# Regional outlook and policy responses\n## United States/Canada, Euro area, Asia-Pacific, Middle East","[{\"question\":\"What is the main economic trend highlighted in the statement?\",\"answer\":\"The statement emphasizes a slowdown in global economic growth, with forecasts declining across advanced economies and emerging market and developing economies.\"},{\"question\":\"What factors are presented as driving inflation and commodity price pressures?\",\"answer\":\"It points to geopolitical uncertainty, supply chain disruptions, and an unprecedented surge in commodity prices, especially fuel and food.\"},{\"question\":\"What policy actions does the statement call for?\",\"answer\":\"It calls for restoring price stability, continuing fiscal consolidation, and supporting vulnerable sections of society while mitigating the cost-of-living burden from food and energy shocks.\"}]","WBG Governor's Statement No. 9 - October 14, 2022 - Statement by Nirmala Sitharaman | PDF",1784486015,20,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"wbg-governors-statement-no-9-october-14-2022-statement-by-nirmala-sitharaman","",{"@graph":36,"@context":85},[37,53,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":20},"https://docshare.wps.com/document/wbg-governors-statement-no-9-october-14-2022-statement-by-nirmala-sitharaman/110564/",{"url":52,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What is the main economic trend highlighted in the statement?","Question",{"text":75,"@type":76},"The statement emphasizes a slowdown in global economic growth, with forecasts declining across advanced economies and emerging market and developing economies.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"What factors are presented as driving inflation and commodity price pressures?",{"text":80,"@type":76},"It points to geopolitical uncertainty, supply chain disruptions, and an unprecedented surge in commodity prices, especially fuel and food.",{"name":82,"@type":73,"acceptedAnswer":83},"What policy actions does the statement call for?",{"text":84,"@type":76},"It calls for restoring price stability, continuing fiscal consolidation, and supporting vulnerable sections of society while mitigating the cost-of-living burden from food and energy shocks.","https://schema.org",{"og:url":52,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,127,130,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":46,"category_name":125,"show_sort_weight":29,"slug":126},9,"Religion & Spirituality","religion-spirituality",{"id":29,"doc_module":4,"doc_module_name":46,"category_name":128,"show_sort_weight":29,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":106,"slug":137},19,"General","general"]