Washington DC – “Uncertainty is the new normal and it is here to stay,” stated IMF head, Kristalina Georgieva, in her curtain-raiser speech ahead of the IMF Annual Meetings next week.

“The IMF is raising concerns that many people feel the economy is leaving them behind,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network. “Rising poverty levels and too high food and fuel prices are serious economic concerns.”

The IMF expressed earlier this year that the average income in African countries is below pre-pandemic predictions. IMF analysis found that global debt is projected to exceed 100% of global economic output by 2029.

“While most of the debt is held by wealthy countries, the debt of developing countries is significantly impacting the poor and stability and prices in the global economy," shared LeCompte. 

Read Kristalina Georgieva's curtain-raiser speech here.