Written by Jubilee USA Network   

The International Monetary Fund (IMF) warns risks are "rotating" to emerging economies in its Global Financial Stability report. The report notes improved overall stability but lists three key challenges facing global policy makers. The IMF releases the stability report twice a year before its Spring and Annual Meetings following its World Economic Outlook report which the fund released yesterday. In that report the IMF reduced growth projections and warned of rising debt levels. The IMF/World Bank Meetings begin in Lima, Peru at the end of this week.

"The poorest countries have the most to lose from global instability," noted Eric LeCompte, finance expert and executive director of the religious development coalition Jubilee USA Network. "While some economies are improving, we still are seeing uneven growth."

At a press conference announcing the report's findings in Lima this morning, IMF Financial Counselor and Director of the Monetary and Capital Markets Department José Viňals noted overall global stability improved over the past year. He listed a "trinity of challenges" facing global financial stability: emerging market vulnerabilities, strained global financial markets and non-performing loans in Europe.

Jubilee USA Network is an alliance of more than 75 US organizations and 400 faith communities working with 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org