Inflation Poised to Rise in Some Countries

Highly Indebted Countries Most Affected by Uncertain Conditions

Washington DC - Economic growth will be lower and some countries face higher inflation amidst trade tensions, rising economic uncertainty and financial market stress, shared Kristalina Georgieva the head of the IMF. “We live in a world of sudden and sweeping shifts,” Georgieva said at the curtain-raiser speech ahead of the IMF, World Bank and G20 Spring meetings taking place next week.

“Higher costs, more inflation, lower growth and an uncertain economic outlook are serious problems,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network which monitors the IMF. "Poor countries, with high debts, are worst prepared to deal with the growing challenges of this global economy." 

Georgieva noted that global economic challenges negatively affect countries with high debt burdens. She recommended that countries restore debt sustainability and seek debt restructurings.

“Georgieva encourages all economies, big and small, to cut debts and raise revenues," stated LeCompte. "With the majority of the world's countries facing severe debt problems or crises, we need more efficient and predictable debt relief processes."

The IMF leader expressed that many people blame the international economic system for unfairness in their lives.

“When economic policies leave people behind, we eventually experience greater political challenges and economic uncertainty,” shared LeCompte. "History has taught us over and over again what happens when vast numbers of people are hurt by economic policies."

Read Kristalina Georgieva's curtain-raiser speech here.