Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

Greg Williams, Communications Director

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

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."
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Jubilee USA Network is an alliance of more than 75 US organizations and 650 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

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