02477cas a2200277 a 4500 AALejournalIMF022657 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513507750 2663-3493 BD-DhAAL BD-DhAAL International Monetary Fund. Strategy, Policy, and Review Department. Development Committee : The Managing Director's Written Statement April 2022. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (5 pages) Policy Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The war in Ukraine risks derailing the global economic recovery at a time when many countries have yet to overcome the consequences of the Covid-19 pandemic. Disruptions have already a severe impact on commodity markets, trade, and financial conditions, while inflation has become a major challenge in many countries and is adding to social pressures. The combination of shocks amplifies complex policy trade-offs that require astute macroeconomic management, for Emerging Market and Developing Economies (EMDEs), this includes preparing for higher interest rates that would translate into costlier terms of borrowing. Fuel and food price increases as well as food insecurity affect vulnerable populations the most, especially in low-income developing countries (LIDCs). Moreover, many LIDCs have only minimal or no policy space to absorb the war's economic and financial spillovers. Reallocating spending and raising more revenues is paramount, as is advancing reforms that promote resilience. However, LIDCs also need support from the international community to finance priority expenditures and deal with often elevated debt burdens. Multilateral cooperation is more important than ever, and the IMF stands ready to help its members through policy advice, capacity development, and, where needed, financial support. Mode of access: Internet Monetary Policy imf Money and Monetary Policy imf Political Economy imf Policy Papers Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=2663-3493 IMF e-Library