Washington DC, Oct. 15, 2019 – The International Monetary Fund downgrades global economic forecasts, calling the future of the economy, “precarious” and “uncertain,” with the release of the 2019 World Economic Outlook Report.
“This is the most bleak economic outlook report that I’ve seen from the Fund,” noted Jubilee USA Director Eric LeCompte who monitored IMF reports since 2010. “World leaders should be very concerned.”
As a result of global economic risks, rising debt levels and trade tensions, the IMF’s flagship report down graded economic growth projections to 3 percent. The report also cited growing disparity in wealthy and “advanced” economies and regions.
“Inequality is on the rise even in some of the richest societies,” stated LeCompte who serves on United Nations finance expert groups. “The same disparity we see between developed and developing economies, is also on the rise at regional levels and within wealthy countries themselves.”
Read the IMF World Economic Outlook Report
Read about Jubilee USA’s Panel Are We Sitting on a New Debt Time Bomb? Tackling the Debt Emergency
Jubilee USA Network is an alliance of more than 75 US organizations and 700 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