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July 22 - A US District judge orders Argentina and hold-out creditors to meet with a court-appointed mediator and negotiate "continuously." The history of the case is detailed in Jubilee USA's timeline. Learn more about the case's global impacts in Jubilee USA's Supreme Court filing that urged the court to hear the case.

June 27 - A US District judge blocks Argentina's attempt to make debt payments to the majority of its creditors, ordering Argentina to also pay hold-out creditors in full. Argentina has argued it cannot pay the hold-outs without facing $100 billion or more in lawsuits from other creditors. Argentina has until July 30 to resolve the dispute or face a potential default. 

June 25 - According to a new IMF paper, corporate tax avoidance hurts the global economy, and poor countries most of all.

June 23 - In a speech on poverty, World Bank President Jim Kim states: "Two of the most important impacts on growth in Africa over the last 5 years... have been 1) the Jubilee movement, debt relief...and 2) HIV treatment."

June 20 - The IMF releases a major paper focused on increasing financial stability and ending predatory behavior. Jubilee's views are covered in the Financial Times.

June 17 - Argentina announces a plan to continue paying its creditors without paying predatory hedge funds. Read the story in Bloomberg's Businessweek, see Jubilee's press release.

June 16 - The Supreme Court rejected Argentina's appeal for a hearing in the "Debt Trial of the Century." See Jubilee's views in the Associated Press, Bloomberg, Washington Post, NPR, Democracy Now! and Time. Read Jubilee USA's timeline and press release on the case.

June 13 - The International Monetary Fund Executive Board meets to discuss responsible lending and borrowing, predatory hedge funds and aspects of an international bankruptcy process. Read Jubilee USA and New Rules for Global Finance's letter to the Fund.

May 21 - Our Executive Director, Eric LeCompte, led a global Jubilee delegation to the Vatican and met with Pope Francis today. Yesterday they were formally received by Vatican Secretary of State Cardinal Parolin and Cardinal Turkson who applauded Jubilee for bringing together Muslims, Jews and Christians to work on financial reforms to end poverty. Read more about the meetings in the National Catholic Reporter, Catholic News Service and the Vatican press.

May 5 - Jubilee USA is featured in Tony Campolo's Red Letter Christians. Read Eric LeCompte's oped in Inter Press Service on Jubilee USA's newest regional partner The Caribbean Debt Network.

Read more of Jubilee's latest news.

BLOG THE DEBT

Dr. Jim Yong Kim, President of the World Bank

Dr. Jim Yong Kim Touts Jubilee Impact On Poverty

June, 2014 - At 2014 RESULTS Conference, World Bank president Dr. Jim Yong Kim said, "Two of the most important impacts on growth in Africa over the last 5 years, which has been over 5%, no one expected it, has been 1) the Jubilee movement, debt relief...and 2) HIV treatment." 

Jubilee Exec. Director Eric LeCompte stands with students representing Republicans, Democrats and three major faiths

Repubs, Dems, Jews, Christians and Muslims Inspire Jubilee Campus Unity

February, 2014 - University of California Berkeley Republicans, Democrats, and Jewish, Muslim and Christian groups joined Jubilee USA to end the structural causes of extreme poverty. You can read about the event in The Daily Californian. Eric keynoted the event that will become a model for universities around the US to bridge political and religious divides to address debts, taxes and corruption.

End Philippine Debt in Wake of Typhoon Haiyan

December, 2013 - While millions of dollars in relief aid continues to pour into the Philippines in the wake of the devastating Typhoon Haiyan, the Philippines continues to pay a staggering $22 million a day in debt payments, much of it stemming from the corrupt regime of Ferdinand and Imelda Marcos.  See our Executive Director, Eric LeCompte, interviewed on Democracy Now about the situation.  Take action today by signing our petition calling on international creditors to issue an immediate moratorium on Philippine debt and to give the Philippines grants - and not loans - to help aid in the recovery process.

Update, Feb. 14, 2014: As of today, the Philippines has made more than $2 billion in debt payments since the Typhoon, money that should be going to help the victims of the storm and to rebuild the country.

Dr. Cephas Lumina, United Nations Independent Expert

Capitol Briefing on Responsible Lending and Borrowing and Vulture Funds

November 6, 2013 - Jubilee USA and American Jewish World Service hosted a congressional briefing on responsible lending and borrowing and vulture funds. Check out speeches from our esteemed panel and read the statements from Financial Services Committee Chairman Emeritus Spencer Bachus and Financial Services Committee Ranking Member Maxine Waters. Read more in our coverage in Inter Press Service.

Jubilee's views on vulture funds have been covered in thousands of outlets across the globe, including the Inter Press Service (8/27), the Associated Press (8/23), the Wall Street Journal (8/23), Washington Post (8/23), the Los Angeles Times (8/23), NBC, ABC, CBS, the National Catholic Reporter (8/23) and the Financial Times (6/27). Additionally, Eric published an Op-Ed in Yes! Magazine (4/22).

Winning a Fair Debt Deal for Grenada and other Caribbean Nations

October 11, 2013 - Jubilee is working to get a fair debt deal for Grenada that will benefit its citizens. Eric traveled to Grenada this year to participate in negotiations between the IMF, Grenada government, international experts and civil society representatives. Read the letter Jubilee's executive committee sent to IMF Head Christine Lagarde. Learn more about the issue through Eric LeCompte's Op Ed in Inter Press Service and the original statement by Grenada's Conference of Churches.

Fueled by recurring financial crises, corruption and loans made to Caribbean countries in the aftermath of natural disasters, several Caribbean nations are suffering debt crises that have deep impacts on the poorest people. Jubilee is supporting a new Jubilee Caribbean Debt Relief Network in order to cancel debt and set precedents that can impact millions of people living in extreme poverty around the globe. Learn more in Jubilee's blog post, Winning a Fair Debt Deal for Caribbean Nations.

Thank President Obama for Efforts to Stop Vulture Funds

July 5, 2013 - Join Jubilee USA in thanking President Obama, US Treasury and the Justice Department for protecting our economy from destabilizing forces and for standing up to hedge funds that exploit the poor. Sign our thank-you letter to President Obama. Jubilee USA Executive Committee thanks President Obama for standing up to vulture funds by sending this letter to the White House.  

Historic G8 Declaration

June 18, 2013 - G8 Summit leaders released a historic declaration that promotes corporate transparency and calls for and end to corporate tax avoidance. The G8 declaration notes that wealthy countries have a responsibility to ensure that multinational companies don't dodge taxes in poor countries. The G8 leaders also noted how important it is to stop corruption within oil and extractive industries.  Jubilee's Director, Eric LeCompte, is quoted in a lead story at CNN Money, in Andrew Sparrow's Guardian blog and in National Catholic Reporter.

Jubilee's one-on-one interview with National Canadian Public Television

Pope Francis and the Poor

April 11, 2013 - Jubilee's Director, Eric LeCompte was quoted on the election of the new Pope in the Washington Post, Boston Globe, Bloomberg and more than 20,000 other news outlets.  He was also interviewed by Canadian national television.

Senator Levin and Jubilee's Eric LeCompte discuss legislation to protect poor countries from corporate tax avoidance

Bipartisan Amendment on Corporate Offshore Tax Loopholes Passes

March 25, 2013 - Thanks to you, the bipartisan Levin(D)/Hatch(R) Amendment 708 passed the Senate Budget Resolution! The passage is part of a global movement to ensure that corporations are accountable to the most vulnerable. Read more in our press release  Jubilee's work brought Senator McCain to the table as well. Earlier in the year, Senator Levin introduced the Cut Unjustified Loopholes Act which preceded the budget action.

Jubilee USA's leadership meets with Senior NSC Director Gayle Smith at the White House on December 20th

Jubilee Meets with White House

December 20, 2012 - Jubilee USA's leadership went to the White House to meet with Gayle Smith, Senior Director of the National Security Council and President Obama's Special Assistant. They moved forward specific recommendations to build an international economy that serves, protects and promotes the participation of the most vulnerable.

Stopping the Blackout Coverage of the LIBOR Scandal

October 5, 2012The Sisters of Charity of New York delivered thousands of Jubilee petitions to NBC Nightly News and ABC World News urging them to stop their blackout coverage of the LIBOR banking scandal.  Read about the story in the Wall Street Journal.  The bank manipulation of a critical interest rate impacts all of us - from home mortgages to credit cards.  Its effects are wide-ranging, especially for the poor and most vulnerable.  Jubilee USA Network, the Interfaith Center on Corporate Responsibility and the Missionary Oblates of Mary Immaculate sent these letters to NBC Nightly News and ABC World News.

 

We Won Nearly $4 billion for the World's Poorest

September 28, 2012 - The Executive Board of the International Monetary Fund approved the final amount of nearly $4 billion from their windfall gold sale profits to support concessional lending to low-income nations through the Poverty Reduction and Growth Trust (PRGT) and extend a 0% interest rate that will make this trust available for future generations beyond 2014.  This momentous move has been two years in the making and we are very excited to see our work translating into real relief for some of the world's poorest people.  Read our press release.

Jubilee for Students

July 9, 2012 - The President signs the bipartisan legislation to promote college affordability and protect low-interest college loans through the Transportation Bill.  Jubilee applauds the bipartisanship in Congress and we thank the President for his leadership and Republicans and Democrats who reached across the aisle to make this happen.  Read Jubilee's statement on the vote to protect college students and their families. 

Months before, Jubilee was mobilizing supporters and engaging Congress Members to protect low-interest rates for students and minimize future debt burdens on students before time ran out on July 1st, 2012.  We sent a letter to Senators and had a weekend of prayer and action.  Over 40 Jubilee Congregations and faith communities prayed and acted for students.  Over 1,600 supporters sent letters to their Senators.  Find out more about the communities that participated in the weekend of action and prayer.  

Read about Jubilee's work around the college student loan issue 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.  And read our blog.

We Kept Vulture Funds Out of New York State Laws

June 24, 2012 - Jubilee USA stopped vulture funds and won a major victory for international debt relief in the New York State Legislature!  We mobilized thousands of our New York Jubilee members to take action to stop vulture funds from using New York State Laws to prey on impoverished countries. See our action here.  Read our press release featuring American Jewish World Service President Ruth Messinger and Jubilee's work on stopping these funds in the Wall Street Journal.  Learn more about vulture funds.

We Passed the Doha Accord

May 1, 2012 - In Doha, Qatar at the UNCTAD meetings on trade and development, Jubilee USA, alongside governments and international partners, secured a strong mandate on debt and responsible lending and borrowing.  This major victory allows us to build an international consensus on responsible lending and borrowing.  Read Jubilee's thank-you letter to President Obama for joining us in our efforts to win in Doha.  

Jubilee's Executive Director, Eric LeCompte, was hosted for the negotiations by UNCTAD to moderate a panel with 11 financial ministers and treasury heads from around the globe to speak in support of UNCTAD's principles on Responsible Lending and Borrowing. Watch and hear the full panel discussion here.  Read the UN press release on the panel here. Learn more about Jubilee's work to end the debt crisis and promote responsible lending and borrowing by reading our report launched in March.

Wahu Kaara outside the White House for Jubilee's Drop the Debt Speaking Tour

Director of Jubilee Kenyan Counterpart Named One of Newsweek's 150 Fearless Women

March 8, 2012 - Wahu Kaara, director of Kenya Debt Relief (Jubilee USA's Kenyan Counterpart), was recently named one of Newsweek's 150 Fearless Women from around the world. She joined other figures ranging from Hillary Clinton, Oprah Winfrey,  three 2011 Nobel Peace Prize winners and Egyptian revolutionary, Samira Ibrahim.  

Kenya Debt Relief has a pairing relationship with Jubilee San Diego. Wahu Kaara was born during the height of Kenya's independence struggle and was our featured speaker for Jubilee USA's Drop the Debt Tour in 2010.

The Responsible Lending and Borrowing Imperative

Jubilee USA released the "Responsible Lending and Borrowing Imperative: Addressing the Root Causes of Poverty."

March 1, 2012 - Jubilee USA Network released its principles on responsible lending and borrowing to Congress in a briefing given by Jubilee Board and Network Council Member, Aldo Caliari, director of the Rethinking Bretton Wood Project of the Catholic Center of Concern.  Caliari was a contributor to Jubilee's new report.

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