IMF Warns Climate Impacts on Poor Countries Can Affect Growth and Stability

Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

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

IMF Warns Climate Impacts on Poor Countries Can Affect Growth and Stability

Economic Report Predicts Growth for Some Developed Countries.

WASHINGTON - The International Monetary Fund (IMF) released its biannual report on the state of the global economy, predicting that economic growth for several wealthy countries will continue.

"‎The IMF is warning that poor countries don't have the resources to protect against climate-related changes," noted Eric LeCompte, the Executive Director of Jubilee USA and an expert on United Nation finance groups. LeCompte has tracked IMF economic reports since 2010. "We can look at the string of hurricanes that hit poor Caribbean countries to see that poor economies are not equipped to deal with natural disasters."

Dominica, Antigua and Barbuda, Puerto Rico and the US Virgin Islands are among several Caribbean economies struggling to recover from this year's hurricane season.

"Beyond dealing with stronger and more frequent storms, the IMF sees vulnerabilities for poor countries who need to deal with food and poverty issues caused by climate changes," commented LeCompte on the climate elements of the report.

The World Economic Outlook report notes that while growth for some developed countries is on the "upswing," the growth is still lower than expected.

"While some growth is positive, too many poor and developing countries have yet to recover from the global financial crisis," stated LeCompte.‎

Read International Monetary Fund's October 2017 World Economic Outlook Report‎

###
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