Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

Lydia C. Andrews, Deputy Director, lydia@jubileeusa.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

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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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