Jubilee USA Statement on IMF World Economic Outlook Report

The IMF releases the World Economic Outlook report downgrading growth for advanced and poor economies.

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's World Economic Outlook Report:

"What's most striking about the report is that we are looking at economies declining both in wealthy and poor countries.

"Because the pandemic is impacting so many developing economies, advanced economies face supply shortages.

"The lack of access to vaccines in developing countries means that we are experiencing economic shocks in wealthy countries.

"Vaccines are a priority and proactive policies to deal with the global debt and health crises are essential for a return to sustainable economic growth."