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Jubilee USA Executive Director Eric LeCompte speaking before the Puerto Rico "oversight" board.

May 24 - World Leaders gather for G7 Summit in Taormina, Italy.

May 23 - UN Forum Focuses on Financing for Development Goals.

May 23 - Read thoughts and analysis from Reverend Heriberto Martínez on Puerto Rico's crises and bankruptcy process.

May 17 - Jubilee USA's Eric LeCompte is in San Juan for Puerto Rico's historic Title III bankruptcy process. Follow his live tweets from the proceeding @Eric_LeCompte. San Juan's Catholic Archbishop and Evangelical Bible Society head write letter to the presiding Judge as bankruptcy process begins. Read more on CBC.

May 16 - Puerto Rico Bankruptcy Process Begins.

May 12 - Jubilee USA's Executive Director Speaks at The Puerto Rico Diaspora Summit. Read about it in El Nuevo Dia and the CBC.

May 12 - Consumer Bureau Escapes Congress Action to Remove Prepaid Rule.

May 4 - Puerto Rico's religious leaders release a bankruptcy statement. Jubilee's views are featured in Value WalkDaily Mail, NPR, Yahoo News, AFP, The Guardian.

May 3 - Puerto Rico's oversight board initiated the Title III bankruptcy process

May 2 - Jubilee USA's Executive Director speaks to Congress on Puerto Rico's humanitarian crisis. Watch it here (link here) read about in eld link eld and other news outlet link that

Apr 27 - Jubilee USA calls on Congress to protect Title III for Puerto Rico. Puerto Rico oversight board meets as bankruptcy deadline approaches.

Apr 25 - Puerto Rico religious leaders call for bankruptcy ahead of "vulture fund" deadline.

Apr 21 - IMF and World Bank meetings begin amid concerns of faltering global cooperation. PUR MORE HERE and VOA and NEWS ARTICLES here

Apr 19 - Global economic risks ahead, warns International Monetary Fund.

Apr 18 - IMF warns of "protectionism" and risky investing; predicts steady growth & calls for cooperation on taxation.

Apr 14 - Puerto Rico oversight board mediates last ditch debt negotiations; Archbishop calls for debt cuts.

Apr 6 - Puerto Rico’s electric company and bondholders agree on a debt deal.

Apr 5 - Congress introduces legislation to close tax havens and curb corruption.

Apr 3 - More than 11 million documents were leaked from a law firm based in Panama a year ago today.

Mar 31 - Jubilee's Eric LeCompte meets with Puerto Rico's Governor, Congresswoman and religious leaders. The Puerto Rico Oversight Board discusses economic growth proposals for the island.

Mar 24 - The House rejects an important amendment that would extend Medicare funding to the citizens of Puerto Rico.

Mar 22 - Religious leaders encourage Congress to extend Medicare coverage to the citizens of Puerto Rico. 

Mar 17 G20 Finance Ministers discuss debt reduction, tackling global tax avoidance and trade policies at a Germany meeting.

 

 

 

 

BLOG THE DEBT

Honoring Jubilee Champions

On November 10th, at a dinner at the US Capitol, Jubilee USA honored four bi-partisan champions who make our work possible. These heroes played key roles in winning and protecting more than $100 billion in debt relief for the world's poorest countries. They exemplify why Congressional Quarterly calls Jubilee USA's efforts some of the last successful bipartisan work in Washington. 

We honored:

The Honorable Spencer Bachus - Republican House Financial Services Chair Emeritus.

Archbishop Silvano Tomasi - Pontifical Council of Justice and Peace, Former Permanent Observer of the Holy See to the United Nations.

Ruth Messinger - Global Ambassador and Retired President, American Jewish World Service.

Kent Spriggs - Lead Attorney and Author, Jubilee USA's 2014 Supreme Court amicus brief.

Puerto Rico's Humanitarian Crisis

June 2016 – The Senate voted 68-30 to pass Puerto Rico debt crisis legislation and send it to President Obama for his signature.


This legislation would not have passed without the leadership of Puerto Rico's religious leaders - and your phone calls and messages to Congress. The bipartisan legislation stops predatory behavior and prioritizes the payment of pensions and social services ahead of debt payments. It seeks to reduce child poverty on the island and provides strong bankruptcy tools to return the debt to sustainable levels.


Our campaign with Puerto Rico's religious leaders launched in August 2015, when the island's religious leaders called for Jubilee - debt relief, budget transparency and investment in Puerto Rico's people. They called on Congress and the White House to intervene. We organized high-level meetings for those leaders with the White House and Congress and joined them at the United Nations to call on funds that own Puerto Rico's debt to negotiate with the government.

 

Passing this legislation was an important first step toward building Jubilee in Puerto Rico - but it is not the last step. As our executive director Eric LeCompte told the Washington Post after the vote:

 

"I think in terms of the real issues facing the island, we are just getting to the end of the beginning. This is not the beginning of the end."


Learn more about Puerto Rico's debt crisis and Jubilee USA's efforts. 


Read Archbishop Roberto González Nieves' thoughts on the legislation and the island's economic crisis in The Hill


Jubilee's efforts are featured in NBC NewsCBS NewsTIME MagazineReutersthe Associated Pressthe Los Angeles TimesCatholic News ServiceNational Catholic Reporter and thousands of news stories across the globe.

 

Jubilee for Students

July, 2016 -Young people in the United States continue to grapple with a growing student debt crisis - total student debt is now over $1.3 trillion. Jubilee USA works to stop predatory student lending practices and support policies that support students to get an education and enter the workforce.

Just this March, a California Superior Court judge ruled that Corinthian Colleges must pay over $1.1 billion in civil penalties due to false advertising and debt collection practices. 

Each year, Jubilee faith communities act and pray on student debt. This year, Jubilee for Students will be part of our annual Jubilee Weekend on October 14-16 as communities across the country act and pray for responsible short-term and student lending here in the US. Read more about Jubilee for Students Weekend 2015.

Read about Jubilee's past work on student debt in Yes! MagazineCatholic News Service and Eric's blog in Sojourners which talks about his visit to the White House to hear President Obama speak on student loans.

Winning a Fair Debt Deal for Grenada and other Caribbean Nations

October, 2015 - In Grenada, working with our religious partners in the region, we won more than $100 million in debt relief and critical budget transparency and anti-austerity reforms. This past October, we helped bring together Caribbean bishops, the Caribbean Conference of Churches, the regional Papal Nuncio and a range of other religious leaders to form Jubilee Caribbean and launch replicas of our Grenada campaign on nine other heavily-indebted Caribbean islands. Our campaign is setting precedents for resolving debt and financial crisis that could benefit millions of the poorest people around the world

Because of vulnerability to recurring natural disasters and corruption, Caribbean nations face high debt and poverty levels - but because they are not considered "low-income" nations by international financial institutions, most aren't eligible for traditional debt relief initiatives. According to Moody's, a debt rating service, twelve of the twenty countries in the region have unsustainable debt-to-GDP ratios. Jubilee USA and its regional partners created a model for reducing debt in the Caribbean while promoting long term structures that deter austerity and predatory financial behavior, reduce corporate tax avoidance and promote budget transparency and accountability. Read about Jubilee's work to win debt relief in Grenada in the Wall Street Journal and ValueWalk and read our director Eric LeCompte's opeds on the Caribbean in Inter Press Service in 2013 and 2014.

Pope Francis and Poverty

Jubilee Executive Director Eric LeCompte discusses Pope Francis' visit on MSNBC

September 2015 Pope Francis' historic US visit focuses on building bridges to end global poverty. At the United Nations, Pope Francis urges world leaders to address the specific debt, tax and trade policies that drive global poverty, including "oppressive lending systems."


Jubilee's views on the Pope's visit are featured by MSNBC, CNBC, the Miami Herald, Fox News Business, Reuters, Voice of America, and in thousands of news outlets around the country. 


Jubilee also published four op-eds on the Pope's visit  in 24 hours Jubilee Protects All of UsPope Francis Encourages Building Bridges to Address ChallengesThe Pope, Partisanship and the Common Good and Pope Francis in His Own Words.

 

In 2014, a global Jubilee delegation met Pope Francis and held extensive meetings with high-level Vatican officials. The delegation discussed debt, tax, trade and financial reform with Cardinal Pietro Parolin, the Vatican Secretary of State and Cardinal Peter Turkson, the president of the Pontifical Council for Justice and Peace. Jubilee's work at the Vatican was featured in the National Catholic Reporter, Vatican News Network, Catholic News Service and  ValueWalk

Ebola Debt Relief Victory

February 5, 2015 - Jubilee USA won $100 million in debt relief for Ebola-impacted West African countries from the International Monetary Fund (IMF) and a new IMF debt relief fund for countries struck by natural disasters or health crises.

Our Ebola debt relief campaign began in the summer of 2014, when we released data showing that Guinea - where the epidemic began - was spending more on debt than on public health. That fall, we moved the White House to ask the IMF for $100 million in Ebola debt relief and pointed out that the IMF already had a trust fund set up to cancel debt in times of crisis. We moved the IMF to create that fund after Haiti's devastating 2010 earthquake. Ebola, we argued, was a good reason to use it again. In October, 150 Jubilee faith communities acted and prayed for Ebola debt relief.

The IMF expanded its Haiti fund to include countries struck by health crises and designated 38 of the world's poorest countries eligible for relief. This fund is the culmination of 15 years of Jubilee's work to end extreme poverty and create permanent social safety nets for countries in crisis.

The Wall Street JournalReutersNational Public Radio's MarketplaceVoice of America and Catholic News Service feature Jubilee's views.

 

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