Washington DC – The IMF releases the Global Financial Stability Report and underscores growing global financial risks emerging from the ongoing Middle East war and high inflation.

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 IMF Meetings and the Global Financial Stability Report:

"The IMF's concerns about global financial stability are alarming.

"War in the Middle East, greater inflation, high debts of countries and concerns about financial institutions can lead to greater challenges in the markets.

"The report argues that the longer the Iran war continues, the greater chance that financial markets will suffer.

"Developing countries face higher financial market risks and will suffer more than developed countries.

"More non-bank investments, such as crypto and private credit markets, are creating greater risks to the financial system.

"The IMF recommends that countries should stabilize their too high debts and invest in protecting the vulnerable and addressing the impacts of inflation for all of us."

Read the full Global Financial Stability Report here.

Read Jubilee USA's statement on the IMF World Economic Outlook report here.

Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.

Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org