The headlines are grim. And they set an unavoidable backdrop for this year’s Annual Meetings of the World Bank Group and the International Monetary Fund. The Meetings provided an opportunity to raise the alarm to these dangers—and discuss how to move forward to help the poor and vulnerable.
As we prepare for the upcoming IMF-World Bank Group Annual meetings, the impacts of the
ongoing economic crisis continue to bear down on nearly all facets of the global economy – pushing more people into poverty and impacting lives and incomes around the world. The pandemic has forced roughly 70 million more people into extreme poverty and global median incomes declined for the first time since measurements began in 1990.
Further complicating these global development challenges are the effects of the high food, fuel, and fertilizer prices rippling through the supply chains of an interconnected world, creating global disruptions and battering incomes and livelihoods – especially among the poorest and most vulnerable populations around the globe.
As we prepare for the upcoming IMF-World Bank Group Annual meetings, the impacts of the ongoing economic crisis continue to bear down on nearly all facets of the global economy – pushing more people into poverty and impacting lives and incomes around the world. The pandemic has forced roughly 70 million more people into extreme poverty and global median incomes declined for the first time since measurements began in 1990.
Further complicating these global development challenges are the effects of the high food, fuel, and fertilizer prices rippling through the supply chains of an interconnected world, creating global disruptions and battering incomes and livelihoods – especially among the poorest and most vulnerable populations around the globe.
As we prepare for the upcoming IMF-World Bank Group Annual meetings, the impacts of the ongoing economic crisis continue to bear down on nearly all facets of the global economy – pushing more people into poverty and impacting lives and incomes around the world. The pandemic has forced roughly 70 million more people into extreme poverty and global median incomes declined for the first time since measurements began in 1990.
Further complicating these global development challenges are the effects of the high food, fuel, and fertilizer prices rippling through the supply chains of an interconnected world, creating global disruptions and battering incomes and livelihoods – especially among the poorest and most vulnerable populations around the globe.
WASHINGTON, August 3, 2022 – The World Bank Group (WBG) today announced details of its global crisis response package to help developing countries navigate multiple, compounding crises that are hitting the poor and most vulnerable the hardest.
“Multiple crises – including rising inflation, Russia’s invasion of Ukraine, large macroeconomic imbalances, and the shortages of energy, fertilizer and food – are hammering developing countries” said World Bank Group President David Malpass. “The World Bank Group is responding with speed, scale and impact with financing to respond to food insecurity, protect people, preserve jobs, strengthen resilience, and restore growth.”
Netherlands for the World Bank 
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