Jubilee USA Statement on World Bank Group Development Committee Communiqué and Malpass Address

Washington DC - The leadership of the World Bank Group, the Development Committee, released their communiqué at the close of the IMF and World Bank Spring Meetings. World Bank President gave a closing press conference.

Eric LeCompte the Executive Director of the religious development organization Jubilee USA, releases the following statement on the World Bank Development Committee Communiqué on the Transfer of Real Resources to Developing Countries:

"The communiqué of the World Bank leadership just offered the first direction that the Fund and World Bank are looking at how Middle Income Countries need debt relief as well.

"We need to be looking at how all developing countries, not just the poorest, are impacted by the coronavirus. This acknowledgement is positive from the World Bank.

"We welcome this critical signal from the leadership of the World Bank that they will start to evaluate the debt challenges and needs of Middle Income Countries.

"While Malpass reiterated many important points from the decisions made this week, the money quotes are in the statement from the leadership about broadening their efforts to more developing countries."

Read the World Bank Communiqué here

Read Jubilee USA's April 1st letter to the IMF on reserve gold funds here

Read Jubilee USA's March 23rd letter to IMF on a health and economic COVID-19 plan here

Read about the IMF World Economic Report here

Read about the Major Religious Institutions Letter to the President, IMF and G20 to Cancel Debts and Use Reserves to Protect Poor here