Publication:
Navigating Multiple Crises, Staying the Course on Long-term Development: The World Bank Group’s Response to the Crises Affecting Developing Countries

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dc.contributor.authorWorld Bank
dc.date.accessioned2022-08-03T17:55:11Z
dc.date.available2022-08-03T17:55:11Z
dc.date.issued2022-07
dc.description.abstractThe world is facing a perfect storm that has the potential to undo decades of development gains. Two years into a major worldwide pandemic, the global impact of the war in Ukraine is hitting countries that were already stressed. Fiscal space has been eroded in many developing countries by rising borrowing costs, and a decade of rising debt capped by a further surge, severely exacerbated by the pandemic. Rising inflation and weakening economic recovery are contributing to growing macroeconomic imbalances, exacerbating already high risks of debt distress and leaving many households vulnerable. In April 2022, the World Bank Group (WBG) outlined a “Roadmap” to indicate how it would support clients as they respond to the impacts of these ongoing, multiple, overlapping, and compounding crises. This follow-up paper details the WBG’s crisis response and proposes a framework tailored to the current situation. This paper is organized as follows. Section II describes the multiple crises facing countries today. Section III proposes a framework for the WBG response to the global crisis. Section IV and V describe key considerations for the operational approach to the crisis response and detail the financing envelope. Section VI underscores the need for global coordination to maximize the impact of this crisis response. Section VII concludes with key issues.en
dc.identifierhttp://documents.worldbank.org/curated/en/099640108012229672/IDU09002cbf10966704fa00958a0596092f2542c
dc.identifier.doi10.1596/37826
dc.identifier.urihttps://hdl.handle.net/10986/37826
dc.languageEnglish
dc.language.isoen
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectUKRAINE WAR IMPACT
dc.subjectBORROWING COSTS
dc.subjectPANDEMIC
dc.subjectWORLD BANK RESPONSE TO GLOBAL CRISIS
dc.subjectCRISIS RESPONSE STATUS
dc.subjectIMPACT OF COVID-19 PANDEMIC
dc.titleNavigating Multiple Crises, Staying the Course on Long-term Developmenten
dc.title.subtitleThe World Bank Group’s Response to the Crises Affecting Developing Countriesen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2022-08-01
okr.date.doiregistration2025-04-29T09:20:39.775277Z
okr.date.lastmodified2022-08-01T00:00:00Zen
okr.doctypeKnowledge Notes::Miscellaneous Knowledge Notes
okr.docurlhttp://documents.worldbank.org/curated/en/099640108012229672/IDU09002cbf10966704fa00958a0596092f2542c
okr.guid099640108012229672
okr.identifier.externaldocumentum33876047
okr.identifier.internaldocumentum33876047
okr.identifier.report174677
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099640108012229672/pdf/IDU09002cbf10966704fa00958a0596092f2542c.pdfen
okr.topicHealth, Nutrition and Population::Disease Control & Prevention
okr.topicHealth, Nutrition and Population::Immunizations
okr.topicHealth, Nutrition and Population::Pharmaceuticals & Pharmacoeconomics
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicMacroeconomics and Economic Growth::Economic Insecurity
okr.unitOPCS Country Economics (OPSCE)
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