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Statement - meeting of the Development Committee

· Fabio Panetta, Governor of the Banca d'Italia (Italy)

Summary written by Dark Majestic in its own words · topics: climate, energy and nature, public finances and debt, development and emerging economies, growth, investment and productivity

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· Fabio Panetta Wiki · Banca d'Italia WikiStatement - meeting of the Development Committee

ContextStatement by the Governor of the Bank of Italy, for a group of seven countries, at the 112th meeting of the IMF–World Bank Development Committee in Washington.

Why it mattersAnnounces Italy's conversion of debt claims into development investment.

Problems raised
  1. Conflicts, climate shocks and fragility hurt people worldwide.
  2. Poor countries face high debt service costs.
  3. Fragile states need tailored support.
Solutions proposed
  1. Convert €250 million of Italian claims into development investment.
  2. Adopt a new World Bank strategy for fragility and conflict.
  3. Support institutions, justice and private sector development.
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