Development Committee: The Managing Director's Written Statement October 2023

October 12, 2023

Preview Citation

Format: Chicago

Development Committee: The Managing Director's Written Statement October 2023, (USA: International Monetary Fund, 2023) accessed December 26, 2024

Summary

The global economy has shown resilience, but the recovery is slow and uneven. Risks have moderated in recent months but remain tilted to the downside. Headline inflation is about half of its 2022 peak but the decline in core inflation is more gradual. Growth momentum across most low-income and emerging market countries is weakening and achieving the 2030 Sustainable Development Goals (SDGs) is becoming increasingly challenging. While restoring price stability, normalizing fiscal policy, and protecting the vulnerable remain near-term policy priorities, policymakers should actively pursue policies that can support sustained growth—including macro-structural reforms and green transition. Multilateral cooperation is critical to address the challenges that hold back global recovery and shadow future prosperity, including risks associated with geoeconomic fragmentation.

Subject: Climate change, Economic growth, Environment, Food security, Inflation, International organization, Monetary policy, Monetary tightening, Poverty, Price stabilization, Prices

Keywords: Climate change, Decline in core inflation, Emerging market country, Food security, Global, Growth, Growth momentum, Inflation, Inflation expectation, Monetary tightening, Multilateral cooperation, Policy priority, Price stabilization

Publication Details

Pages:

5
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2023/042
Stock No:

PPEA2023042
ISBN:

9798400256448
ISSN:

2663-3493

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