IMF Warns of Global Financial Crisis Risk (tags)
For the second day in a row, the International Monetary Fund raised concerns of pending financial crisis. Ahead of the Spring IMF and World Bank meetings, the IMF released the Global Financial Stability Report, warning of "vulnerabilities" in corporate debt, house values and sovereign (country) debt.
Caribbean Bishops and Development Groups Urge Debt Relief for Irma-Struck Islands (tags)
On behalf of Caribbean Catholic Bishops, Bishop Gabriel Malzaire called for islands dealing with Hurricane Irma to receive debt relief.
At G7 Summit Trade and Debt Policies Take Center Stage; Bishops Call on G7 to Enact Global (tags)
G7, Jubilee USA Network, Debt
G7 Finance Ministers Focus on Growth in Face of High Debt (tags)
Washington DC - G7 finance ministers gather in Dresden, Germany, to discuss promoting "sustainable growth" in the face of growing global debt. US Treasury Secretary Jacob Lew is among the ministers gathering. The meeting takes place amid debt crises in the Eurozone and the developing world. The ministers meet after the International Monetary Fund (IMF) reported slow economic growth and increased debt burdens during the IMF/World Bank Spring Meetings. "It's impossible to experience sustainable growth, when wealthy and poor countries are struggling with unsustainable debts," stated Eric LeCompte, Executive Director of Jubilee USA Network, who is in Dresden for the meetings. The finance ministers gathered in Dresden include Joe Oliver of Canada, Michel Sapin of France, Wolfgang Schäuble of Germany, Pier Carlo Padoan of Italy, Taro Aso of Japan, George Osborne of the United Kingdom and Jacob Lew of the United States. Jubilee USA joined Jubilee Germany in Dresden for several G7 outreach events organized on the growing debt crisis.
IMF World Economic Outlook: Economy Improves for Some as Inequality Persists (tags)
Debt Restructuring Process Discussed by IMF and G20