Washington DC – The International Monetary Financial Committee, the IMF policymaking body, met on Friday during the IMF and World Bank Annual meetings to discuss the global economic situation, debt and other challenges.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitored IMF meetings since 2010, releases the following statement on the IMFC Chair's statement and the IMF meetings:
"Low economic growth and countries holding high debts is a very serious problem impacting most countries, but poor countries are wrestling with the greatest challenges.
"For developing countries, high debt service payments will continue to grow.
"We saw more commitments to make debt restructuring more timely and adequate, but there is limited progress.
"The IMF fears that we will see even lower economic growth in the future.
"Uncertainty in the economy and job creation weighed heavily on the minds of all of us at this year’s IMF and World Bank meetings.
"It is absolutely urgent for us to follow Pope Leo’s message that the poor must be at the center of our economic policy decisions."
Read the IMFC Chair's full statement here.
Read Jubilee USA's statement on the G20 ministerial meeting here.
Read Jubilee USA's press release on the IMF Global Financial Stability Report and World Economic Outlook report here.
Read Jubilee USA's statement on the IMF World Economic Outlook Report here.
Read Jubilee USA's statement on the Global Financial Stability Report here.
View and join Jubilee's events this week at the IMF, World Bank and G20 meetings here.
Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.
Read our Jubilee analysis on Pope Leo's first official teaching document “Dilexi Te,” released ahead of this week's meetings calling on world leaders to ensure the poor are at the center of economic decisions, here.
Read the original post on Jubilee USA Network's site.
