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

_Policy Papers, October 12, 2023_

## Source details

**Canonical URL:** [Development Committee: The Managing Director's Written Statement October 2023](https://www.imf.org/en/publications/policy-papers/issues/2023/10/11/development-committee-the-managing-director-s-written-statement-october-2023-540368)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2023/10/11/development-committee-the-managing-director-s-written-statement-october-2023-540368/index.md)
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## Bibliographic details
- Published: October 12, 2023
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400256448.007

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### Global outlook and key takeaways
- 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.
- Achieving the 2030 Sustainable Development Goals (SDGs) is becoming increasingly challenging.

### Inflation dynamics
- Headline inflation: about half of its 2022 peak.
- Core inflation: decline is more gradual (no specific numeric decline provided in source).

### Growth, vulnerabilities, and SDGs
- Growth momentum across most low-income and emerging market countries is weakening.
- The weakening growth momentum raises challenges for achieving the 2030 Sustainable Development Goals (SDGs).

### Policy priorities and recommendations
- Near-term priorities:
  - Restoring price stability.
  - Normalizing fiscal policy.
  - Protecting the vulnerable.
- Policies to support sustained growth:
  - Pursue macro-structural reforms.
  - Advance the green transition.

### Multilateral cooperation and external risks
- Multilateral cooperation is critical to address challenges that hold back global recovery and shadow future prosperity.
- Highlighted external risk: risks associated with geoeconomic fragmentation.

### Publication metadata (as presented on the page)
- Pages: 5
- Volume: 2023
- Issue: 042
- Series: Policy Paper No. 2023/042
- Stock No: PPEA2023042
- DOI: https://doi.org/10.5089/9798400256448.007
- ISBN: 9798400256448
- ISSN: 2663-3493

*International Monetary Fund. Strategy, Policy, & Review Department "Development Committee: The Managing Director's Written Statement October 2023", Policy Papers 2023, 042 (2023), accessed 9/19/2026, https://doi.org/10.5089/9798400256448.007*

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2023/10/11/development-committee-the-managing-director-s-written-statement-october-2023-540368_