Unseen in Decades, Inflation Challenges Global Economy
Washington DC – The IMF releases the Global Financial Stability Report and raises global concerns over inflation, climate and recession.
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:
"As central banks in leading economies act to tame inflation, we see ripple effects on the debts of developing countries.
"The combination of high inflation and recession deeply affects the poor.
"Developing countries will need $300 billion a year just to adapt to the impacts of climate change, a figure that may grow larger by 2050."
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 the IMF Food Shock Window here.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
Available for interview: Eric LeCompte, Executive Director
Contact: Anjoulie Woodhead, Communications and Outreach Director
[email protected] / (202) 430-6975