Jubilee USA Statement on IMF Head "Curtain-Raiser" Speech
Washington DC – Ahead of IMF and G20 meetings, IMF Managing Director Kristalina Georgieva delivered a "curtain-raiser" speech focused on debt, vaccines and pandemic response at Bocconi University.
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 Georgieva speech and upcoming meetings:
"High debts, soaring food prices and lack of vaccines are the greatest threats facing developing countries.
"Too many countries cannot combat the pandemic because they aren't bringing in enough revenue and are struggling to pay their debts.
"Georgieva is concerned about food prices. They've gone up by 30 percent. Vulnerable people are losing access to vaccines.
"Georgieva's speech highlights the growing concerns with developing countries not getting enough vaccines.
"We are counting economic losses in the trillions if developing countries can't access vaccines.
"Countries struggling with too much debt and lack of access to vaccines will come back to haunt all of us. All countries can face further economic shocks and new virus variants."