Energy prices are expected to average more than one-third higher this year than 2020, with oil averaging $56 a barrel, it said. Prices should rise to $60 a barrel in 2022, "broadly in line with their 2017-19 average."
"Emerging market and developing economies, both commodity exporters and importers, should strengthen their short-term resilience and prepare for the possibility of growth losing momentum."
Federal Minister for Economic Affairs Division updated the World Bank MD on steps being taken to build resilient institutions as well as investment in human capital.
Asim Ahmad gave an update on the progress of the reforms agenda covering 10 Disbursement Linked Indicators (DLIs) and also shared concerns regarding the difficulties being encountered in progress on reform interventions involving data sharing with provinces and the Sindh High Court stay on the Track and Trace process.
Okamoto told reporters following IMF and World Bank Spring Meetings that the allocation, backed last week by G20 countries, will especially aid middle-income countries that need to refinance debt amid potentially tighter financial conditions.
"The High-Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response (...) will consider practicable solutions to ensure sustainable financing for pandemic prevention, surveillance, preparedness, and response", Ignazio Visco said at a World Bank event.
It was pointed out that the FBR has issued valuation tables for three cities including Karachi, Hyderabad, and Sukkur, for Capital Gains Tax collection.
She urged the World Bank to support developing countries and ensure they get timely access to COVID-19 vaccines, and said the United States supported accelerated negotiation to replenish the World Bank's International Development Association fund for the poorest countries.
"We clarified in written form the G20 nations' thinking on currency rates. It's a clarification, not a change, in our stance," Aso told reporters on Wednesday.
Aso was speaking after attending a virtual meeting of leaders from the G20 major economies, held on the sidelines of IMF/World Bank spring meetings.
The high levels of protection observed in Pakistan carry a high opportunity cost in terms of export-oriented jobs lost, and a higher productivity path the economy could undertake.
