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<p><span>1. The global economic recovery is continuing. However, new waves of COVID-19 infections and the emergence of new variants are impacting the pace of recovery. Recovery is expected to be asynchronous, partly due to uneven access, delivery and uptake of vaccines, therapeutics, and diagnostics, with an increased likelihood of narrower and uneven macroeconomic policy space. Supply disruptions, supply-demand mismatches, and increased commodity prices, including energy prices, have also contributed to rising inflationary pressures in a number of countries and pose potential risks to the global economic outlook. We will continue to strengthen the resilience of global supply chains. We remain vigilant of the impacts of these challenges on our economies. We will also continue to monitor major global risks, including from geopolitical tensions that are arising, and macroeconomic and financial vulnerabilities. We will undertake a more systematic analysis of macroeconomic risk

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