Policy Papers

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

Publication Date:

October 12, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Policy Paper No. 2023/042

Subject:

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

Frequency:

occasional