Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

Phone: 202.783.3566
Email: coord(at)jubileeusa.org

Federal Reserve Raises Rates and Poor Countries Pay More Debt

WASHINGTON - Eric LeCompte, the Executive Director of the religious development organization Jubilee USA, releases the following statement on the Federal Reserve raising interest rates .25%:

"Over the last few years, poor countries took out more loans from wealthy countries ‎because interest rates were so low. As the Fed raises rates and the dollar becomes stronger, many poor countries will see debt payments going up.

"Too many poor countries are still struggling to recover after the global financial crisis and I'm worried about their increasing debt burdens."

###

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Won't Exist.

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

Share This Article