Jubilee USA Statement on IMF Global Financial Stability Report

Unseen in Decades, Inflation Challenges Global Economy

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.