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For Immediate Release

Contact

Greg Williams, Communications Director

greg@jubileeusa.org / (o) (202) 783-3566 x101 (m) (443) 854-1405

Press Release

Federal Reserve Rate Increase Impacts Poor Country Debt

WASHINGTON -

The US Federal Reserve is expected to raise interest rates at its meetings tomorrow. It would be the first rate increase since 2006. The interest rate increase could make it more difficult for some developing countries to repay their loans.

Eric LeCompte, Executive Director of the religious debt watch-dog group Jubilee USA, releases the following statement:

"One outcome of an interest rate increase from the Federal Reserve is higher debt payments for poor countries.

"While the dollar will become stronger, some of the world's poorest countries will become weaker."

###

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.

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