For Immediate Release
Lydia C. Andrews, Deputy Director, firstname.lastname@example.org, (202) 783-3566 x109
IMF World Economic Outlook Report Raises Concerns for Long-term Growth
WASHINGTON - The International Monetary Fund releases its World Economic Outlook (WEO) Report, forecasting global growth in the short-term and raising concerns on possible economic downturns beyond the next few quarters. The Fund issues the report ahead of the Spring IMF and World Bank meetings where world leaders, finance ministers and nongovernmental organizations gather this weekend on the 10-year anniversary of the global financial crisis.
"In the near term the IMF sees continued economic growth, but it's warning that continued growth is short lived," noted Jubilee USA Executive Director Eric LeCompte, who has tracked IMF meetings for nearly 10 years. "The IMF is warning that rising debt levels are a growing risk around the world."
Recently the Fund released analysis focusing on specific concerns with rising, unsustainable debt levels in Africa. While the Fund's economic outlook report predicts short-term global growth to 3.9%, it highlights debt levels, trade policies, decreased labor participation and aging populations as risks to long-term growth.
"The IMF is asserting that now is the time for countries to get their houses in order to prevent and be prepared for future financial crises," noted LeCompte who serves on United Nation expert groups that focus on economic issues. "Overall these economic forecasts allude to growing inequality and increasing divides between the rich and the poor."
Read the April 2018 World Economic Outlook
Mid-Year Campaign: Your Support is Needed Now.
Common Dreams is a small non-profit - Over 90% of the Common Dreams budget comes from reader support. No advertising; no paywalls: our content is free. But our costs are real. Common Dreams needs your help today! If you're a regular reader—or maybe a new one—and you haven't yet pitched in, could you make a contribution today? Because this is the truth: Readers, like you, keep us alive. Please make a donation now so we can continue to work for you.