Washington DC – On Thursday, G20 finance ministers met on global economic growth, uncertain economic conditions, debt and expanding development bank aid. No communique was issued from the G20.

Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitors G20 meetings, releases the following statement on the G20 finance ministers meeting during the IMF and World Bank Spring Meetings:

“The G20 faces its greatest test since the pandemic, with challenges for economic growth, an uncertain economy, rising debt problems and threats of inflation.

“More than half of the poorest countries need immediate solutions for debt relief.

“We urgently need to improve the tools that can allow developing countries to deal with debt problems and crises.

“Expanding the lending capacity of multilateral development banks is important as less aid goes to developing countries.

“We will need to go beyond the additional $35 billion annual increase of development bank aid and loans that was announced last year.”

Read Jubilee USA's press release on the IMF Spring Meetings here.

Read Jubilee USA's statement on the IMF 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 statement on the passing of Pope Francis who had focused this year's Church efforts on debt relief and IMF reform here.