G20 finance ministers concluded their meetings during the Spring IMF and World Bank Meetings in Brazil. During the session, the ministers focused on inflation shocks, debt vulnerabilities in developing countries and the role of Multilateral Development Banks.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert, issued a statement afterwards, stressing that the G20 debt relief processes are not working effectively or fast enough.
“Food security and debt are challenges that impact every issue that the G20 is grappling with.
“Developing countries need increased funds from Multilateral Development Banks to deal with climate, poverty and food security challenges.