World Leaders Focus on High Debt Levels and Poor Economic Growth as Morocco Meetings Begin

World leaders, finance ministers, business groups, academics and development organizations descend on Marrakesh, Morocco, for the IMF and World Bank Annual Meetings. IMF head Kristalina Georgieva reports that the global economy lost $3.7 trillion due to shocks since 2020 and that slow and unequal growth continues.

“Debt, climate issues and poor economic growth top the agenda during these meetings,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network. LeCompte is in Marrakesh for the IMF and World Bank meetings. “It's important that we are meeting in Africa where the average income hasn't changed since 2015 and the region is dealing with a serious climate crisis."

This is the first time since 1973 in Kenya that the IMF and World Bank Annual Meetings have taken place in Africa. The IMF, World Bank, G20 and G7 meet October 9th through 15th.

Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain raiser speech here: https://www.jubileeusa.org/imf_curtain_raiser_23?utm_campaign=general_pr_annuals_23&utm_medium=email&utm_source=jubileeusa

Join Jubilee USA and partners for IMF and World Bank event: "Defusing the Debt Time Bomb: The Role of an Effective Crisis Prevention and Resolution Architecture." More information here: https://www.jubileeusa.org/jubilee_debt_event_annual_meetings?utm_campaign=general_pr_annuals_23&utm_medium=email&utm_source=jubileeusa

Jubilee USA Network is an alliance of more than 75 US organizations and 750 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.

http://www.jubileeusa.org