Jubilee USA Statement on Spring World Bank and IMF Meetings

Washington DC - World leaders, Finance Ministers, industry representatives and development groups are meeting at the Spring World Bank and IMF Meetings.

Eric LeCompte the Executive Director of Jubilee USA, a religious development organization, releases the following statement on the Spring Meetings and the Communique of the thirty-ninth International Monetary and Financial Committee:

"The IMF is urging us to do all we can to prevent another financial crisis. Reducing risky market behavior and tackling unsustainable government and corporate debts are priorities to prevent another financial crisis.

"In two reports this week, the IMF analyzes our current economic situation against conditions that led to the 2008 financial crisis. They are worried and don't want history to repeat itself.

"The last financial crisis drove nearly 100 million people, mostly women and children, into extreme poverty. Our world can not afford another crisis.

"High debt loads, financial transparency policies and trade tensions were key focuses of the meetings. We need policies that can cut unsustainable debt, curb tax evasion, avoidance and corruption to raise revenue and build a trade regime that protects workers and the poor."

Read the full IMF Communique here: https://www.imf.org/en/News/Articles/2019/04/13/communique-of-the-thirty-ninth-meeting-of-the-imfc

Read the Jubilee USA release on the World Economic Outlook Report

Read Jubilee USA's release on the Global Financial Stability Report