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<p><span>1. Multiple compounding crises have severely darkened the global economic outlook and development prospects. Global growth is slowing, and poverty, hunger, water scarcity, cost of living pressures and food and energy insecurity have increased alarmingly, deepening the existing challenges in the global economy as well as exacerbating fragilities in Fragile and Conflict-Affected States (FCS). Persistently high inflation and spikes in food and energy prices, exacerbated by the conflict in Ukraine, have disproportionately harmed vulnerable households and the poor. Downside ris...

Unlike previous episodes of sudden stops and reversals, the recent volume of outflows is much higher, and could accentuate financial vulnerabilities while worsening overall macroeconomic instability.

GENEVA  —  The International Monetary Fund’s (IMF) revised policy framework for managing cross-border financial flows, approved by its Executive Board last month, broadens the circumstances under which countries may restrict capital inflows. Unfortunately, it also ties countries’ hands excessively and fails to contend with the myriad real-world contexts in which the proffered

<p><span>The IMFC recalls that on March 2, the United Nations General Assembly by a majority of 141 countries adopted the resolution ES-11/1 &ldquo;Aggression against Ukraine&rdquo;&nbsp;</span><span>that &ldquo;deplores in the strongest terms the aggression by the Russian Federation against Ukraine in violation of Article 2 (4) of the Charter&rdquo; and &ldquo;demands that the Russian Federation immediately cease its use of force against Ukraine&rdquo;. Thirty-five countries abstained from the vote; five countries voted against the resolutio...

<p><span>1. We are deeply saddened by the tragic deaths and devastation in Ukraine. We strongly support international efforts to provide humanitarian support and restore peace and stability and recognize that this crisis compounds and intensifies risks and undermines economic recovery worldwide.</span></p>