Reuters Quotes Eric LeCompte on IMF Head Kristalina Georgieva's Curtain-Raiser Speech

Reuters mentions Eric LeCompte on IMF director Kristalina Georgieva's "curtain-raiser" speech at the IMF Civil Society Policy Forum. Read an excerpt below, and click here for the full story.

IMF trims 2021 GDP forecast, citing 'vaccine divide,' inflation

By Andrea Shalal

Inflation pressures, a key risk factor, were expected to subside in most countries in 2022 but would continue to affect some emerging and developing economies, she said, warning that a sustained increase in inflation expectations could cause a rapid rise in interest rates and tighter financial conditions.

"High debts, soaring food prices and lack of vaccines are the greatest threats facing developing countries," said Eric LeCompte, executive director of the religious development group Jubilee USA Network. "We are counting economic losses in the trillions if developing countries can't access vaccines."

Georgieva said central banks could generally avoid tightening for now, but they should be prepared to act quickly if the recovery strengthened faster than expected or risks of rising inflation materialized.


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