Washington DC – The IMF releases the Global Financial Stability Report and flags growing vulnerabilities under global financial markets that “appear calm.” 

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 is alluding to a bubble in financial markets.

"A lesson from financial history is consistent. When bubbles burst, the poorest pay the highest price.

"More developing countries are issuing debt in domestic markets, which could make their banking sectors more vulnerable.

"The report warns of the risks that stablecoins can bring, especially for emerging markets.

"The report recommends improving oversight of pension funds, insurance companies and investment funds whose risks cannot be separated from the banking system that the average person uses."

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.

Read Jubilee USA's press release on Pope Leo's first official teaching document “Dilexi Te” here.