United Nations, New York – The UN Secretary General António Guterres, called for debt relief that is timely and effective in his remarks to more than 70 heads of state and 40 heads of government at the launch of the 81st Session of the UN General Assembly.

There is broad agreement among world leaders that we need faster and more efficient debt relief,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network. "Unfortunately, we are not moving forward stronger debt policies to deal with growing challenges in the global economy." 

This fall the UN hosts discussions to advance debt policy commitments agreed in recent summits. At the Fourth Financing for Development Conference held in Seville, Spain, last year, world leaders pledged to reduce debt burdens in developing countries with debt relief, aid, more responsible lending and improving transparency and curbing corruption. The UN agreement in Seville committed to start an intergovernmental process to move forward improvements in the financial system.

Read the UN Secretary General's address to the General Assembly here.

Jubilee USA Network Executive Director Eric LeCompte was featured in Reuters discussing the International Monetary Fund’s review of the design and conditions of its loan programs.

IMF Review Calls for ‘Fewer but Deeper’ Reforms in Design of Loan Programs

Reuters quotes Eric on countries returning to debt crises: "One of the greatest challenges is that countries are getting back in debt because the previous financial policies, the previous conditionality reports and debt reviews have not been adequate to keep countries out of crisis."

Washington DC - G20 finance ministers concluded two days of meetings in North Carolina, hosted by Secretary of Treasury Scott Bessent. 

"The Middle East war, challenges in US bond markets, economic growth, trade and too high sovereign debt were the key issues discussed at the meetings," said Eric LeCompte, a UN finance expert and the Executive Director of Jubilee USA Network, a religious development coalition that monitors G20 meetings. "The G20 agreed that more action on debt and economic growth must take place."

In his opening speech, Bessent focused on pursuing economic growth. A statement released by Treasury or the chair’s statement, was agreed by all G20 members but China and called for faster and more predictable debt relief policies.

“Too many developing countries struggle with high debts and low growth,“ said LeCompte. “There is a growing sense that current debt policies need significant improvement.”

Under its G20 priority on sovereign debt challenges, the US seeks to make sovereign debt restructurings faster, more transparent and more predictable.

“The US government is pressing debt as a key global issue to address," added LeCompte.

Bessent remarked that work on global debt will remain a G20 priority and announced a G20 Technical-Level Study Group to maintain momentum with the presidents and prime ministers of G20 countries when they meet in Miami in December.

“The G20 study group on debt shows the commitment of the US government to improve debt policies,” shared LeCompte.

Read the Chair's Statement on the G20 Second Meeting of the Finance Ministers and Central Bank Governors. 

Washington DC – On Monday, G20 finance ministers and central bank governors arrive in Asheville, North Carolina, for two days of meetings. In a briefing for the G20, the IMF noted that the economic shock of the Middle East war continues to damage growth and five-year economic projections remain close to their weakest point since 2009. As chair of this year’s G20 finance track, Treasury Secretary Scott Bessent announced an agenda that centers on accelerating economic growth, global imbalances, improving debt restructurings and transparency, and modernizing financial regulation.

“The G20 meets amid growing concerns on the economy and our high food and fuel prices,” said Eric LeCompte, the Executive Director of the religious development organization Jubilee USA Network. LeCompte has monitored G20 meetings since 2010. “The immediate worries about the US bond market could overtake conversations.”

Global debt levels remain at an all-time high and continue to rise. In a program on debt sustainability G20 finance leaders adopted unanimously last year – the only consensus they reached in 2025 – they agreed that high debt is an obstacle to growth in many developing countries and undermines investments in health, education and infrastructure priorities.

“Dealing with global debt is essential for boosting economic growth for everyone,” added LeCompte.

Earlier in the year the US G20 Presidency led a process to renew guidelines for sovereign debt restructurings and build support for a creditor-debtor agreements blueprint, both seeking to strengthen transparency, monitoring and speed in debt reduction processes.

“The US agenda seeks to address debt vulnerabilities before they turn into crises and expand the number of countries that benefited from debt restructuring tools such as the G20 Common Framework,” shared LeCompte.