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Jubilee's Executive Director Eric LeCompte speaks at the final round table at the UN Financing for Development Conference in July 2015. (Photo by Tom Cardamone)

Jul 28 - The United Nations adopts 9 principles to create a global bankruptcy process. The International Business Times and ValueWalk feature our views.

Jul 24-26 - More than 60 Jubilee faith communities in 26 states act and pray for solutions to the student debt crisis as part of Jubilee for Students Weekend. Meanwhile, a US government agency issues a first-of-its-kind fine for predatory student lending practices.

Jul 16 - The Archbishop of San Juan, Puerto Rico, calls for Congress to grant the island bankruptcy protection. In an op-ed in TIME Magazine, he applauds Jubilee USA for our debt relief efforts and calls for a global bankruptcy process.

Jul 13-15 - World leaders gather in Addis Ababa, Ethiopia this week to address global debt, tax and trade policies at the UN Financing for Development Conference. Our executive director Eric LeCompte spoke at the summit on solutions to predatory financial activity against developing countries.

Jul 14Pope Francis calls for a global bankruptcy process for countries, one of Jubilee's core policies since our founding.

Jul 13 - Greece and its lenders agree to a new financing package that includes austerity measures but not debt relief. 

Jul 5 - Greek voters reject a financing plan that includes austerity measures.

Jul 1 - Puerto Rico's public utility company reaches a deal with investors to extend debt negotiations. The island owes $72 billion in debt and new congressional legislation could allow it to access US Chapter 9 bankruptcy protection. LA Times features Jubilee's views. 

Jun 30 - Debt crises in Greece and Puerto Rico highlight important international debates over austerity, debt and global bankruptcy proposals. The Associated Press, New York Times, Washington Post and thousands of outlets feature Jubilee's views. 

Jun 25 - The International Monetary Fund (IMF) will not give Nepal debt relief through its new emergency fund. The IMF says Nepal does not qualify because its earthquake did not cause enough economic damage. Nepal failed to raise the $6.6 billion it says it needs for earthquake recovery at an international donor conference. The International Business Times features Jubilee's views. 

Jun 4 - The scandal surrounding FIFA, world soccer's governing body, highlights larger corruption problems in the global financial system. Jubilee supports bi-partisan legislation in Congress to improve transparency and make it harder for criminals to move dirty money around the world. The global wire service Agence-France Presse features Jubilee's views.

Apr 23 - Greece meets with its creditors regarding its deepening debt crisis. Jubilee Executive Director Eric LeCompte is quoted in the New York Times and the Associated Press.

Apr 9 - Grenada reaches a debt deal with investors as Caribbean religious leaders push for reforms to protect the poor. The deal can serve as a precedent for other Caribbean debt restructurings. The Wall Street Journal, Reorg Research and Bloomberg feature Jubilee's views.

Feb 5Ebola Debt Relief Victory: The International Monetary Fund announces $170 million in Ebola debt relief and creates a new debt relief fund for disaster-impacted countries. This is the culmination of Jubilee's major campaign for Ebola debt relief. Our views are in the Wall Street Journal, Reuters, Financial Times, National Public Radio's Marketplace, Voice of America and Catholic News Service.

Read more of Jubilee's latest news.


Debt Relief for Nepal

Spring, 2015 - On April 25, a 7.8 magnitude earthquake struck Nepal, killing over 8,800 people and destroyed over 500,000 homes, 8,000 schools and 1,023 health centers. Nepal is one of the poorest countries in the world and owes $3.8 billion in debt, including about $1.5 billion each to the World Bank and Asian Development Bank. Thanks to Jubilee's efforts, Nepal is potentially eligible for $23 million in debt relief from the International Monetary Fund's new debt relief trust fund for countries impacted by natural disasters. We are running a campaign to win debt relief for Nepal from the IMF and to move the World Bank to create its own emergency relief fund and cancel Nepal's debt. Jubilee's views on Nepal appear in Bloombergthe International Business TimesReutersInter Press Service and more.

UN Votes to Begin Global Bankruptcy Process

Fall, 2014 - On September 9, 2014, the United Nations General Assembly voted overwhelmingly to begin work on a global bankruptcy process. That process - one of Jubilee's core issues since our founding - could make defaults less likely and halt predatory hedge funds. The resolution passed 124 - 11 with almost unanimous support in Latin America and Africa. Jubilee organized thousands of messages to United States UN Ambassador Samantha Power urging her to vote yes. In December, the UN reaffirmed the process with two more resolutions. Foreign Policy, the Guardian, International Business Times and ValueWalk featured our work.

Jubilee USA Filed an Amicus Brief to the US Supreme Court in March

The Debt Trial of the Century

Summer 2014 - On June 16, the US Supreme Court rejected Argentina's appeal for a hearing in the "Debt Trial of the Century." The case dates back to Argentina's 2001 debt default and pits the South American country against a group of predatory hedge funds seeking more than $1.5 billion. Jubilee USA filed an amicus brief to the high court this March, urging the court to take the case and noting the negative impact a ruling in favor of the predatory funds would have on poor countries, debt restructurings and legitimate investors. On July 30, Argentina defaulted. Jubilee USA's views on the case are featured in the Wall Street Journal, National Public Radio, the Financial Times, Time Magazine and more. Jubilee's executive director Eric LeCompte addressed the United Nations about the case in August.

A complete timeline of the case is available on our website.

Dr. Jim Yong Kim, President of the World Bank

Dr. Jim Yong Kim Touts Jubilee's Impact On Poverty

June, 2014 - At the 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." 

A Jubilee delegation met Pope Francis in May 2014. The "Jubilee" Pope has declared a Holy Year of Mercy.

Jubilee at the Vatican

Spring 2015 - On March 13, Pope Francis celebrated the second anniversary of his election to the Papacy. The Pope emphasized ending poverty and addressing global inequality. Our views on the "Jubilee" Pope are featured on National Public Radio's Marketplace. 

The previous spring, 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 Vatican Secretary of State, Cardinal Pietro Parolin and the president of the Pontifical Council for Justice and Peace, Cardinal Peter Turkson. Jubilee's work at the Vatican was featured in the National Catholic ReporterVatican News Network, Catholic News Service and ValueWalk.

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 pours 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.

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.

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.

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.

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