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Dark Clouds Gather on Horizon for Financial System, Warns International Monetary Fund

by Kate Zeller Wednesday, Oct. 10, 2018 at 1:51 PM

Bali, Indonesia -The International Monetary Fund releases its "Global Financial Stability Report" ahead of its Annual Meetings held this year in Southeast Asia.

The International Monetary Fund releases its "Global Financial Stability Report" ahead of its Annual Meetings held this year in Southeast Asia. The report finds that short-term risks to financial stability rose in the last 6 months.

"The IMF is saying our economy is stable now, but there are some serious risks to stability on the horizon," noted Eric LeCompte who tracks IMF reports as the Executive Director of the religious development coalition Jubilee USA. "The IMF is also saying that inequality is on the rise and the global economic recovery is still not shared by everyone."

This is the second major IMF report this week which raises concerns of pending financial crisis. On Tuesday, the IMF released its World Economic Outlook report.

LeCompte's organization, Jubilee USA, organized a high-level event for October 12th during the Annual Meetings which focuses on financial crisis prevention and economic aid when countries experience economic shocks or natural disasters. Speakers include Finance Ministers and senior staff from the IMF, G-24 and the Vatican.

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 0 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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