We believe that the members’ relative shareholdings in IBRD should be based on the principle of relative weight in the world economy. In this vein, we also favor maintaining a link between the Bank’s shareholding and the outcome of negotiations on IMF quotas.
Full-year inflation averaged 3.9 percent in 2021 based on 2018 CPI series. Inflation further eased to 3 percent in January 2022, supporting the narrative that inflation is on a downward trajectory. The Development Budget Coordination Committee (DBCC) kept the inflation target range at 3.0 percent ± 1.0 percentage point for 2022–2024.