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Tag Archives: Fragility
2022 World Bank Group Spring Meetings Events
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April 19 | 11:30 AM EDT The Way Forward: Responding to Global Shocks and Managing Uncertainty  |
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The 2022 Spring Meetings are taking place in the shadow of war in Ukraine and rising global challenges due to conflict, COVID-19, and climate change. Join this conversation between IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass as they provide insights and highlight potential solutions to tackle challenges during this complex time. #ResilientFuture
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Europe and Central Asia Economic Update
The Russian Federation’s war with Ukraine has triggered a catastrophic humanitarian crisis and threatened the stability of geopolitical relations. Economic output in the Europe and Central Asia region is forecast to contract by more than 4.1% in 2022—the second major shock and regional recession in two years. Moreover, the war has added to mounting concerns of a sharp global growth slowdown. The economic impact of the conflict has reverberated through multiple global channels, including commodity and financial markets, trade and migration links, and confidence. Neighboring countries in the Europe and Central Asia region are likely to suffer considerable economic damage because of their strong trade, financial, and migration links with Ukraine and Russia. Pandemic disruptions amid rising COVID-19 cases in some major economies have contributed to financial and commodity market volatility, and could ultimately weigh on global growth prospects. The war has also raised the likelihood of a destabilizing wave of refugees, widespread financial stresses among some emerging and developing economies, a de-anchoring of inflation expectations, and food insecurity. A protracted conflict is likely to heighten policy uncertainty and fragment global trade and investment networks. Policy makers need to ensure that they are better prepared to handle future crises as part of a commitment to a comprehensive approach to bolster resilient, inclusive, and green development. They should fortify their macroeconomic policy buffers and institutions to strengthen stability; promote an inclusive and more equal recovery by strengthening their social protection systems to protect the most vulnerable, including the refugees; and keep their focus on improving energy efficiency and green transition to secure a sustainable future.
Addressing Challenges to Growth, Security, and Stability
In his speech, “Addressing Challenges to Growth, Security, and Stability,” President
Malpass will discuss how conflict, COVID-19, and climate change have created unprecedented challenges for developing countries, hurting the poorest and most vulnerable people and communities. He will outline how, moving forward, crisis recovery and longer-term development requires economic transformation, investment in human capital, and security and stability underpinned by support from the international community.
This speech will be broadcast live from Poland, a country that has taken in over 2.3 million Ukrainian refugees fleeing war.
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Four paths to respond to the food price crisis
As the devastating war in Ukraine rages on causing untold suffering, its impact is being felt
far beyond its borders, battering a world emerging from a pandemic that has hit developing countries hardest. Among the most critical is the food price crisis, calling into question the affordability and availability of wheat and other essential staples.
There is no downplaying the blow that the war has dealt to food systems, already fragile from two years of COVID-19 disruptions, climate extremes, currency devaluations, and worsening fiscal constraints. , not only wheat but barley, maize, and edible oil among others exported by these two countries. Global and domestic food prices were already close to all-time highs before the war, and a large question mark looms over the next seasons’ harvests worldwide due to the sharp increase in fertilizer prices as well.
“Whether we succeed in managing food price volatility and navigating our way out of this new crisis depends on national policies and global cooperation.”
2022 World Bank Group Spring Meetings
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World Bank Group Stands with Ukraine and its People
Prepares to support countries in the region affected by the conflict 
WASHINGTON, Feb. 24, 2022—David Malpass, President of the World Bank Group, today released the following statement:
“The World Bank Group is horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine. We are a long-standing partner of Ukraine and stand with its people at this critical moment.
Today, I discussed the situation with our Board of Directors and have mobilized our Global Crisis Risk Platform to accelerate coordination across the World Bank Group.
The devastating developments in Ukraine will have far-reaching economic and social impacts. We are coordinating closely with the IMF to assess these costs.
When I met with President Zelenskyy in Munich on Saturday, I reaffirmed the World Bank Group’s strong support and commitment to the people of Ukraine and the region.
We stand ready to provide immediate support to Ukraine and are preparing options for such support, including fast-disbursing financing. Alongside development partners, the World Bank Group will use all our financing and technical support tools for rapid response.
The World Bank Group is also in active dialogue to support neighboring countries and people that may be affected by this conflict and will make additional resources available.”
Prepares to support countries in the region affected by the conflict
WASHINGTON, Feb. 24, 2022—David Malpass, President of the World Bank Group, today released the following statement:
“The World Bank Group is horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine. We are a long-standing partner of Ukraine and stand with its people at this critical moment.
Today, I discussed the situation with our Board of Directors and have mobilized our Global Crisis Risk Platform to accelerate coordination across the World Bank Group.
The devastating developments in Ukraine will have far-reaching economic and social impacts. We are coordinating closely with the IMF to assess these costs.
When I met with President Zelenskyy in Munich on Saturday, I reaffirmed the World Bank Group’s strong support and commitment to the people of Ukraine and the region.
We stand ready to provide immediate support to Ukraine and are preparing options for such support, including fast-disbursing financing. Alongside development partners, the World Bank Group will use all our financing and technical support tools for rapid response.
The World Bank Group is also in active dialogue to support neighboring countries and people that may be affected by this conflict and will make additional resources available.”
Addressing fragility is critical for development
The COVID-19 pandemic and
related shutdowns are challenging the effectiveness of civil and institutional structures around the world and adding to fragility and violence, resulting in interrelated crises for foreign policy, development, and economics.
Tackling the vicious cycle of fragility and water insecurity
Some 2.2 billion people around the world do not have access to clean drinking water, 4.2 billion
do not have sanitation service, while 3 billion lack basic handwashing facilities. The consequences of this lack of access to basic services are disproportionately felt by the poorest and most vulnerable people living in fragile, and conflict-affected situations (FCS) since many of the most fragile countries are also those with the poorest services.
COVID-19 in fragile settings: Ensuring a conflict-sensitive response
, as seen in the recent resurgence of polio in Syria, cholera outbreaks in the conflict zones in Yemen, and the persistence of Ebola in insecure eastern regions of the Democratic Republic
of Congo (DRC). Between 2009 and 2017, in fact, there were 364 disease outbreaks in 108 refugee camps. Fragility and conflict reverse hard-won development gains and stunt opportunities for children, youth, and the poorest people. In the process, they deeply weaken health systems, leaving societies more vulnerable to disease outbreaks.
Netherlands for the World Bank 
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