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The Saker

A bird's eye view of the vineyard

Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

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Lockdown Skeptics

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Hamit Coskun Convicted After Burning Koran in Public Mon Jun 02, 2025 13:27 | Will Jones
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Right-Wing Karol Nawrocki Wins Polish Presidential Election Mon Jun 02, 2025 11:12 | Will Jones
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Activist Scientists Rage About Trump?s Executive Order, Comparing Him to Hitler For Insisting That F... Mon Jun 02, 2025 09:00 | Chris Morrison
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"Amid Exceptional Uncertainty" IMF Projects Growth for Rich Countries, Challenges for Developing Countries

international | politics / elections | press release

Tuesday January 26, 2021 19:39

by Zachory Conti - Jubilee USA Network

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The International Monetary Fund released projections on the world economy as countries continue to wrestle with the coronavirus.

The International Monetary Fund released projections on the world economy as countries continue to wrestle with the coronavirus. The Fund's World Economic Outlook Update projects 5.5% global growth in 2021, while noting developing countries face growing problems.

"While the IMF is uncertain in its predictions, it's clear that the developing world is mired in severe challenges due to high debts, few financial resources and lack of access to vaccines," stated Jubilee USA Executive Director Eric LeCompte who has reviewed IMF economic reports for more than a decade.

The update to the IMF's flagship report notes that global growth mostly benefits wealthy and advanced economies. The analysis notes that many developing countries will need debt relief and access to liquidity to get through the crisis.

"Developing countries desperately need debts reduced and access to new financial resources," shared LeCompte, a United Nations finance expert. "In order for people to survive this crisis in the developing world, we need to authorize the use of global reserve funds or what's called Special Drawing Rights."

Special Drawing Rights are likened to a type of emergency currency that the IMF can generate when countries face liquidity challenges.

The IMF raised several cautions about economic projections, including how new strains of the coronavirus could push economic downturns.

Read the latest IMF World Economic Outlook Update here.

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