This year’s Spring Meetings of the World Bank Group and International Monetary Fund took place at a time of overlapping global crises. The war in Ukraine has compounded concerns about inflation, COVID-19, climate change, and debt, with many other countries also facing fragility and conflict.
The chair’s statement issued on Friday by the Development Committee, a ministerial-level forum that represents 189 member countries of the two organizations, noted that the impacts will be felt most in low- and middle-income countries, especially by their most vulnerable people, including women and children. The statement added that economic recovery is at risk amid geopolitical tensions, with investment, trade, and growth affected, even as countries face further risks from the pandemic and uneven deployment of vaccines.
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