<p><span>1. The global economic recovery continues. But divergences between economies persist, reflecting stark differences in vaccine access and policy support. The emergence of virus variants has increased uncertainty, and risks to the recovery are tilted to the downside. The crisis is exacerbating poverty and inequalities, while climate change and other shared challenges are becoming more pressing and require our urgent attention.</span></p>
Statement from Secretary of the Treasury Janet L. Yellen for the Joint IMFC and Development Committee marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
<p><span>1. The global economy is recovering from the pandemic amidst an uncertain path. Growth in per capita incomes of advanced countries and many emerging and developing economies (EMDEs) continue to diverge, largely driven by uneven vaccine access, fiscal space and financial capacity to respond to the crisis. After severe output losses due to the pandemic, growth in the near term in many EMDEs is improving largely due to increasing domestic demand and higher commodity prices. Multiple social and economic challenges – food insecurity, increasing inequality, persistent unemployment and informality, setbacks in education and human capital development, heightened debt vulnerabilities, conflict, fragility and migration, climate change and increasing inflation risks – remain and weigh on medium-term prospects of most EMDEs. The sudden tightening of financial markets poses additional downside risks. Securing inclusive and sustainable growth will require int
Vaccinating the world against COVID-19 should be a top development priority. Yet, the global roll out of vaccines is progressing at two alarmingly different speeds, resulting in a deep divergence between Africa and the rest of the world.
Opening blog looking at the 2021 World Bank/IMF Annual meetings, which will feature guest speaker and participants across a number of sessions and engagement focused on COVID-19, vaccines, public debt, climate change, trade and other key development challenges.