Eric LeCompte, Executive Director of Jubilee USA was recently featured in Catholic News Service and Catholic Philly speaking on Caribbean debt relief in the midst of hurricane recovery. Read excerpt below and follow link to full article.
Caribbean Church Leaders Campaign for Debt Relief After Hurricanes
"Eric LeCompte, executive director of Jubilee USA, a Washington-based charity working with religious organizations to push for debt relief, said the additional costs of rebuilding more safely put governments in a bind: If they miss debt payments, their credit scores could be negatively affected, making it more difficult and costly to borrow in the future. Alternatively, they could be forced to borrow more from private lenders.
'Putting these governments further into debt is the last thing we want to happen,' LeCompte told Catholic News Service. Under the debt relief plans that have been promoted, the countries would not be penalized for missing payments. Islands could also be made eligible for low-interest loans, LeCompte said.
'Debt relief is the most direct and efficient way of freeing funds for these governments to respond to the human needs on the ground,' he said."
Read more here.