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For Immediate Release
October, 06 2015, 12:00pm EDT
Contact:
Greg Williams, Communications Director
greg@jubileeusa.org / (o) (202) 783-3566 x101 (m) (443) 854-1405
IMF Report Downgrades Global Economy and Issues Debt Warning
The International Monetary Fund (IMF) downgrades global growth forecasts and warns of rising debt levels in "emerging" economies in its newly released World Economic Outlook report. The report lowers growth forecasts in low-income and developing countries from 6% in 2014 to 4.8% in 2015. The IMF releases the report twice a year before its Spring and Annual Meetings. This year's joint IMF/World Bank Annual Meetings begin this week in Lima, Peru.
WASHINGTON
The International Monetary Fund (IMF) downgrades global growth forecasts and warns of rising debt levels in "emerging" economies in its newly released World Economic Outlook report. The report lowers growth forecasts in low-income and developing countries from 6% in 2014 to 4.8% in 2015. The IMF releases the report twice a year before its Spring and Annual Meetings. This year's joint IMF/World Bank Annual Meetings begin this week in Lima, Peru.
"Debt continues to take its toll on the global economy," noted Eric LeCompte, executive director of the religious development coalition Jubilee USA Network. LeCompte serves on United Nations finance expert groups "The IMF's cautious tone is well-founded and we need to change the debt, tax and trade polices that cause poverty."
In her annual pre-meetings speech, IMF Managing Director Christine Lagarde called global growth "disappointing and uneven" and called for policy changes to address pressing economic challenges. Lagarde specifically noted foreign debt in emerging markets as a concern. Currently almost 50 countries around the world face worrying levels of debt distress.
"Lagarde is right that our challenges require a policy solution," stated Andrew Hanauer, Campaigns Director representing Jubilee USA at the meetings, "In 2013 the IMF laid out a road map for improving debt policies that we must follow to move forward."
Read a summary of the International Monetary Fund World Economic Outlook report.
Read the IMF's 2013 report, "Sovereign Debt Restructuring - Recent Developments and Implications for the Fund's Legal and Policy Framework."
Jubilee USA Network is an alliance of more than 75 US organizations and 400 faith communities working with 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.
(202) 783-3566LATEST NEWS
Because 'This Is Murder,' Family of Colombian Fisherman Killed by Trump Readies Legal Fight
"We want this case to help stop these killings from taking place again," said the American lawyer representing the family.
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Family members of a Colombian fisherman killed in one of the Trump administration's illegal strikes on boats in the Caribbean is preparing to take legal action over what they describe as the murder of their loved one.
The New York Times reported Thursday that the family of Alejandro Carranza "has hired an American lawyer, who said he was preparing a legal claim."
The lawyer, Dan Kovalik, told the Times that the impending case is important both because "the family deserves compensation for the loss" of Alejandro and, more broadly to stop the Trump administration from killing people with impunity.
"We want this case to help stop these killings from taking place again," Kovalik said. "This is murder, and it is destroying rule of law."
The description of Carranza's killing as murder aligns with the views of United Nations experts and human rights advocates who have characterized the Trump administration's bombings in international waters as extrajudicial killings. To date, the administration has carried out at least 19 strikes on vessels in international waters, killing an estimated 75-80 people in total.
"I never thought I would lose my father in this way," said Cheila Carranza, Alejandro's 14-year-old daughter.
Trump has claimed, without providing any evidence, that the targeted vessels were smuggling drugs to the US. Though his body has yet to be found, Carranza is believed to have been killed in an attack in the Caribbean on September 15, part of the Trump administration's broader military campaign and buildup in the region that has sparked fears of a direct US war with Venezuela and other nations.
The attack infuriated Colombia President Gustavo Petro, who suspended intelligence cooperation with the US in response and accused the Trump administration of trampling international law.
"If intelligence communications only serve to kill fishermen with missiles, it is not only irrational, but a crime against humanity, insofar as the murder of civilians is systematic," Petro wrote in a lengthy social media post earlier this week.
"Colombia respects international law and defends it because it is the only wall we have as a human civilization against the barbarism that threatens to take over all of humanity," he added.
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Elected officials in North Carolina are letting it be known they do not want to see federal immigration raids in their communities like those suffered by other states in recent months.
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"We're all gathered here from many branches of government, from obviously our state Legislature, our school board, our County Commission, our City Council members, because we do not want ICE here," said state House Rep. Aisha Dew (D-107), referring to Immigration and Customs Enforcement.
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The press conference—which also included leaders of local organizations—came after various reports this week cited unnamed US officials who said President Donald Trump has set his sights on Charlotte.
Amid mounting reports of the forthcoming operation, Mecklenburg County Sheriff Garry L. McFadden said in a Thursday statement that he was contacted a day earlier "by two separate federal officials confirming that US Customs and Border Protection (CBP) personnel will be arriving in the Charlotte area as early as this Saturday or the beginning of next week."
"At this time, specific details regarding the federal operation have not been disclosed and the Mecklenburg County Sheriff's Office (MCSO) has not been requested to assist with or participate in any enforcement actions," the statement highlighted.
The Charlotte-Mecklenburg Police Department similarly said in a Friday statement that CMPD "has no authority to enforce federal immigration laws" and "does not participate in ICE operations, nor are we involved in the planning of these federal activities."
ICE and CBP are both part of the US Department of Homeland Security. DHS Assistant Secretary Tricia McLaughlin has declined to provide any details about possible action in Charlotte, telling multiple outlets: "Every day, DHS enforces the laws of the nation across the country. We do not discuss future or potential operations."
As the Associated Press noted Thursday:
Trump has defended sending the military and immigration agents into Democratic-run cities like Los Angeles, Chicago, and even the nation's capital, saying the unprecedented operations are needed to fight crime and carry out his mass deportation agenda.
Charlotte is another such Democratic stronghold. A statement of solidarity from several local and state officials estimated the city is home to more than 150,000 foreign-born people. The city's population is about 40% white, 33% Black, 16% Hispanic, and 7% Asian.
While a spokesperson for North Carolina Congressman Tim Moore, a Republican whose district includes parts of Mecklenburg County, expressed support for DHS in a statement to the Charlotte Observer, Democratic Congresswoman Alma Adams, who represents the targeted city, sounded the alarm about the department's reported plans.
"I am extremely concerned about the deployment of US Border Patrol and ICE agents to Charlotte," Adams said in a Thursday statement. "Charlotte's immigrant community is a proud part of the Queen City, and I will not stand by and watch my constituents be intimidated or harassed."
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After the sheriff's Thursday announcement, Charlotte's Democratic mayor, Vi Lyles, also shared a statement on social media: "We still don't know any details on where they may be operating and to what extent. I understand this news will create uncertainty and anxiety for many people in our community. Everyone in our community deserves to feel secure, and I am committed to doing all that I can to inform our community, help make sure everyone feels safe, and understands their rights."
"It is also important that people understand CMPD is not involved in federal immigration activities, so people who need local law enforcement services should feel secure calling 911," she added. "There continues to be rumors about enforcement activities and I would ask that everyone refrain from sharing unverified information. Doing so creates more fear and uncertainty when we need to be standing together. We will continue to work with local and state partners to do what we can to ensure the safety of our community."
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A Democratic senator on Thursday sounded the alarm on the dangers of unregulated artificial intelligence after AI company Anthropic revealed it had thwarted what it described as "the first documented case of a large-scale cyberattack executed without substantial human intervention."
According to Anthropic, it is highly likely that the attack was carried out by a Chinese state-sponsored group, and it targeted "large tech companies, financial institutions, chemical manufacturing companies, and government agencies."
After a lengthy technical explanation describing how the attack occurred and how it was ultimately thwarted, Anthropic then discussed the security implications for AI that can execute mass cyberattacks with minimal direction from humans.
"The barriers to performing sophisticated cyberattacks have dropped substantially—and we predict that they’ll continue to do so," the firm said. "With the correct setup, threat actors can now use agentic AI systems for extended periods to do the work of entire teams of experienced hackers."
Anthropic went on to say that hackers could now use AI to carry tasks such as "analyzing target systems, producing exploit code, and scanning vast datasets of stolen information more efficiently than any human operator," which could open the door to "less experienced and resourced groups" carrying out some of the most sophisticated attack operations.
The company concluded by warning that "the techniques described above will doubtless be used by many more attackers—which makes industry threat sharing, improved detection methods, and stronger safety controls all the more critical."
This cybersecurity strategy wasn't sufficient for Sen. Chris Murphy (D-Conn.), who said government intervention would be needed to mitigate the potential harms caused by AI.
"Guys wake the f up," he wrote in a social media post. "This is going to destroy us—sooner than we think—if we don’t make AI regulation a national priority tomorrow."
Democratic California state Sen. Scott Wiener noted that many big tech firms have continuously fought against government oversight into AI despite threats that are growing stronger by the day.
"For two years, we advanced legislation to require large AI labs to evaluate their models for catastrophic risk or at least disclose their safety practices," he explained. "We got it done, but industry (not Anthropic) continues to push for federal ban on state AI rules, with no federal substitute."
Some researchers who spoke with Ars Technica, however, expressed skepticism that the AI-driven hack was really as sophisticated as Anthropic had claimed simply because they believe current AI technology is not yet good enough to execute that caliber of operation.
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