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.
“Brazil is attempting to raise some ambitious issues to address poverty, climate and inequality during its G20 presidency.
“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.
“As the majority of countries face numerous crises, the G20 has a responsibility to move forward aid and policies that can resolve these crises.”
Read his full economic outlook report, here: