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April 11 - As IMF meetings focus on debt and inequality, see Jubilee USA's views in Common Dreams.

April 9 - Jubilee USA sponsored a high-level debt panel at the International Monetary Fund Annual Meetings.  The panel featured high level finance ministry representatives from Grenada, Argentina and Switzerland.  Jubilee USA's Executive Director Eric LeCompte commented on the IMF's World Economic Outlook Report in a release.

March 25 - Jubilee USA and 78 religious and development organizations filed to the US Supreme Court on the NML/Argentina debt case. The filing expresses concern for the case's impact on the poor and on bipartisan US policy. Read Jubilee's brief, the list of organizations that filed and our press release.  Listen to and read Eric LeCompte's national radio interview. See Jubilee's recent coverage on the case in the National Catholic Reporter, Wall Street Journal, Mint Press and the Argentine press.

March 13 - Today marks the one-year anniversary of Pope Francis' installation as head of the Catholic Church.  During that time, Pope Francis has consistently called for the creation of a global economy that serves all of us, and particularly the world's most vulnerable people.  He has urged policy makers to take action on issues of debt, taxes, and financial reform that will greatly impact the world's poorest people.  Read Jubilee USA's statement on the Pope's anniversary.  

February 28 - The Daily Californian covered Jubilee's unity event to end extreme poverty that was sponsored by the UC Berkeley College Republicans, Democrats, and Jewish, Muslim and Christian groups on and off campus. Eric keynoted the event that will become a model for universities around the US to bridge political and religious divides to solve structural causes of extreme poverty: debts, taxes and corruption. You can read more about the event in the Daily Californian.  The students also released a statement of unity declaring the importance of ending extreme global poverty. 

February 18 - Argentina officially files final Supreme Court appeal in landmark debt case.  Read Jubilee's press release.  Read Argentina's petition

Read more of Jubilee's latest news.

BLOG THE DEBT

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.

On Tax Day, Jubilee was featured on Voice of America on African corporate tax avoidance and debt

Urgent! Tell Congress, COSPONSOR the Stop Tax Haven Abuse Act (H.R.1554)

May 1, 2013 - Tell Congress, to cosponsor the Stop Tax Haven Abuse Act (HR1554) and address systemic causes of poverty.

Read Jubilee's press statement on Common Dreams.

IMF Spring Meetings

April 18, 2013 - At the International Monetary Fund spring meetings, Jubilee USA was quoted in the Washington Post, NBC, CBS, the Miami Herald, the Associated Press, Agence France-PressEl Espectador and thousands of other outlets.

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.

Victory to Protect Our Debt Gains Against Big Oil

August 22, 2012 - A victory for transparency and anti-corruption was won when the Securities and Exchange Commission (SEC) ruled in our favor to implement the Cardin-Lugar Rule of Dodd-Frank. This ruling promotes greater transparency in the dealings of oil, coal and extractive industries in the developing world. Our efforts in moving the SEC were even highlighted in their final public ruling! Earlier this year, we collected over 110,000 petitions with the ONE campaign to deliver to the SEC. These petitions asserted that the SEC should implement this legislation and reject the lobbying of the oil industry to weaken the rule.  Learn more.

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.

Jubilee Won Legislation to Stop Tax Havens

March 8, 2012 - The Levin Amendment passed the Senate - creating a huge victory for the world's poorest!  Because of the work of Jubilee USA and the FACT Coalition, this Amendment will create accountability to stop tax havens and tax avoidance - ensuring the money will go where it belongs - to help the people that need it the most in low-income countries.  Learn more here.

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.

Sovereign Debt Mechanism Panel - Panelists from left to right: Kent Hughes (Woodrow Wilson), Mansur Muhtar (World Bank Group), Jo Marie Griesgraber (New Rules for Global Finance), Gorges Pineau (IMF), Anres de la Cruz (Cleary, Gottlieb, Steen & Hamilton, LLP), and Eric LeCompte (Jubilee USA)

Sovereign Debt Workout Mechanism

Fall 2011 - Jubilee, along with partner organizations, held a round table discussion on what we have learned from past experiences with restructuring sovereign debts, and what options are (or should be) available to today's and tomorrow's sovereign debtors.

To learn more and listen to the full discussion, click here.

Voices of Esther Campaign

Spring 2011 - Join us in launching our newest campaign, the "Voices of Esther."  Like Queen Esther did for the Israelites, Jubilee activists will use their access to powerful decision-makers to raise our voices for the most vulnerable.  As United States citizens, we should use our privilege of living in a democracy to bring the stories of the poor whose concerns are often overlooked.   Urge your elected officials to expand debt relief and support responsible finance today. 

Join the Jubilee Movement legacy by taking action with our new, diverse faith initiative

1,000 Faith Leaders Initiative

Spring 2011 - Jubilee USA is launching a new campaign to bring the voices of diverse faith traditions to the halls of the White House.  Through the 1,000 Faith Leaders Initiative we will deliver a letter with more than 1,000 signatures of faith leaders from across the country to President Obama.   The letter urges President Obama to expand life-saving debt cancellation and ensure responsible finance for the world's poorest countries.

Thousands of paper chains were hung on the White House fence October 8th - raising the call for economic justice to President Obama. Photo Courtesy of Pablo Benavente

Break the Chains March for Economic Justice a Success

Fall 2010 - Jubilee USA brought thousands of multicolor paper chains from around the country and marched around the IMF and World Bank to the White House. Stories and photographs from our march and rally have covered the globe - AFP, AP, and Reuters have used images of your paper chains for their wire stories, a diverse group of bloggers have written on the event, and NBC, ABC, and FOX news stations included the march in their nightly newscast. Check out all the media we received and see photographs from the rally.  

Why did we mobilize?  On October 5, just before our incredible action, Jubilee USA hosted a standing room only Congressional Briefing on how the IMF should reform its practices.  Want to learn more about the current need for IMF reform? Read Jubilee USA's report.

Debt Cancellation for Haiti

Summer 2010 - Jubilee USA Network welcomes the International Monetary Fund Executive Board�s decision to cancel Haiti�s $268 million debt to the institution in response to the January 12 earthquake, but is concerned over the IMF�s decision to provide $60 million in financing support as a new loan. Read the press release here

After January's devastating earthquake,  Jubilee USA Network led the call for complete debt cancellation for the country. Thanks to efforts from supporters around the world, all of Haiti's donors have committed to debt cancellation. We are continuing to work to make sure that Haiti is freed from the chains of debt once and for all.

Fall 2010 - On September 17-19, Jubilee USA participated in Stand Up! Take Action!, a weekend in which millions worldwide stand up to demand world leaders keep their promises to end poverty and inequality. The following week on September 23, President Obama recognized the need to keep our commitments to the world's poorest citizens.  In response to the President's speech, Bishop Neil Irons of the Methodist Church published an Op-Ed in the Washington Post.  Read Bishop Iron's Op-Ed supporting Jubilee USA's work.  48 U.S. Representatives sent a letter to President Obama urging him to include expanded debt cancellation and responsible finance in his plan to achieve the Millennium Development Goals.  Read the full letter here.  

Just before Christmas, Senators Lugar and Casey were joined by Senators Kerry, Menendez, Dodd, Durbin, Cardin and Sherrod Brown in sending a letter to President Obama advocating for the world's poorest.  The letter urges the Administration to provide grants, not loans for poor countries, increase transparency and accountability in the international financial system, and fight corruption. Read the letter here.

Jubilee USA and religious leaders meeting with the Honorable Lael Brainard

Meeting with the Honorable Lael Brainard, US Under Secretary of the Treasury

July 7, 2010 - Jubilee USA Network and religious leaders met with the Honorable Lael Brainard, Under Secretary for International Affairs, US Treasury Department.  In the meeting, we thank the Administration for their work on cancelling Haiti's debt and had a robust dialogue on Jubilee USA's priorities including full funding of the U.S.'s debt relief commitments for the world's most vulnerable.

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