March 21 - Jubilee USA and 75 religious and development organizations will file to the US Supreme Court on the global implications of the NML Capital vs Argentina case on Monday. Read our press release. Also read Eric LeCompte's comments to the Wall Street Journal on this landmark case.
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 through The Daily Californian's article here.
February 14 - Argentina prepares to file final Supreme Court appeal in global predatory hedge fund debt case. The religious community joins the IMF, the US government and the United Nations in opposing exploitative hedge fund behavior. Read our press release. Jubilee's Executive Director, Eric LeCompte, spoke about the twists and turns of the case in January to HedgeCo.net. For a timeline on the Argentina/NML Capital Case visit here.
January 24 - Read Jubilee's press release on the 2014 World Economic Forum in Davos, Switzerland and the imperative for world leaders to address tax avoidance. Developing countries lose billions of dollars each year to tax avoidance, money that should be spent on education and health care for some of the world's poorest people. Between 2000 and 2008, $6.5 trillion left the developing world untaxed, leaving poor countries more in need of loans and aid.
January 16- Read this article on predatory hedge funds from HedgeCo.Net. Jubilee's Executive Director, Eric LeCompte, is featured to explain the importance of this issue and its relation to the Supreme Court case, Argentina v. NML Capital.
January 6 - Start the new year by giving a tax-deductible donation to Jubilee USA. Check out Jubilee's latest in-depth e-update and 2013 year-end report.
December 27 - Jubilee Director Eric LeCompte was interviewed on Democracy Now! around debt and humanitarian crisis in the Philippines and global financial reform. Watch it here. Since Typhoon Haiyan struck the Philippines, the country has paid over $1 billion in debt payments - more than twice as much as they've received in relief aid. Some of the debt still being paid is from the abusive Marcos regime. Sign our petition today to grant an immediate moratorium on the Philippines' debt repayments, and to offer unconditional grants--not loans--to help the country recover. Read more in Jubilee's release on Common Dreams.
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.
December 26 - Please enjoy Jubilee's latest in-depth e-update and our 2013 year-end report.
December 17 - Argentina is expected to appeal to the US Supreme Court by mid-February in response to the US 2nd Circuit Court ruling in favor of predatory hedge funds. The precedent the case sets empowers a small group of hedge funds to target assets that benefit vulnerable populations. The nearly 93% of debt holders who restructured are now pressing for a solution. Read Jubilee's latest press release. Learn more about this global poverty debt case.
December 12 - Take action and tell your Senators and Representative to support legislative measures for responsible lending and borrowing at the IMF, World Bank and other International Financial Institutions. Such measures would benefit the world's poorest and most vulnerable. Learn more about our work with the IMF in Jubilee Director Eric LeCompte's OpEd: Grenada's IMF Sunday School in Inter Press Service.
December 5 - Representatives Doggett and DeLauro introduce legislation to end sequestration and curb corporate usage of offshore tax havens. Jubilee applauds the bill that helps millions of people escape poverty. Read our statement on Common Dreams.
December 4 - The EU fined eight financial institutions a combined total of $2.3 billion for their alleged role in the manipulation the London Interbank Offered Rate (LIBOR). The manipulation of LIBOR is one of the largest banking scandals of our time. Read Jubilee Director Eric LeCompte's statement on how this manipulative behavior impacts the most vulnerable.
November 26 - Jubilee's Executive Director spoke at the United Nations today during the Open Working Group on Sustainable Development. Read his comments on debt, tax, the IMF and vulture funds.
November 18 - In the landmark debt case between vulture funds and Argentina, the US 2nd Circuit ruled for predatory hedge funds and against the interests of the global poor. We expect Argentina to file an appeal to the US Supreme Court. Read Jubilee Director Eric LeCompte's statement.
November 6 - 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 here. Read more in our coverage in Inter Press Service.
November 1 - A US Appeals Court rejected vulture funds' request to remove hold on payments in the landmark debt case between Argentina and vulture funds. Read more in Jubilee USA's statement.
October 11 - Jubilee USA is working to get a fair debt deal for Grenada that will benefit its citizens. Learn more in Eric LeCompte's Op Ed in Inter Press Service. Read the letter Jubilee's executive committee sent to IMF Head, Christine Lagarde. Read the Conference of Churches in Grenada's original statement.
October 10 - The IMF announced that member countries approved their commitment to fund the Poverty Reduction and Growth Trust (PRGT) for concessional lending. Financing comes from windfall profits made from IMF gold sales. Jubilee led a three year campaign to secure windfall profits to go to benefit the poor. We still have concerns over aspects of lending, however, zero percent interest loans mean real relief for millions of the world's most vulnerable people. See our coverage in Inter Press Service, the Independent European Daily Express and the Pakistan Observer. You can read more about our IMF gold sales victory in Agence France-Presse (AFP), Yahoo News, the Global Post and the South China Morning Star.
October 7 -The U.S. Supreme Court decides not to take the Argentina and NML Capital debt case. Further appeals are pending in lower courts and the Supreme Court will likely have another chance to accept the case in the coming months. Read Jubilee's reaction in our press statement. See Jubilee's thoughts on the case in the Washington Post, the Financial Times and the Los Angeles Times. Read Eric's OpEd in Yes! Magazine and get more details on the case from our vulture funds page.
September 19 - The Senate version of the Stop Tax Haven Abuse Act was introduced. This legislation calls on corporations to stop avoiding paying taxes in the developing world. Take Action and ask your Senators to cosponsor this legislation.
September 6 - The G20 meeting concludes in Russia and delegates released their leaders' declaration. Read Jubilee USA's statement.
September 5 - Jubilee USA Network, United to End Genocide and Physicians for Human Rights sent a letter to the White House on establishing preemptive contract sanctions on the Syrian government. This action deters companies from selling weapons and protects future Syrian generations from inheriting illegitimate debts. The groups also sent a letter to New York Governor Andrew Cuomo who has similar executive powers to address Syria in our proposal.
August 19 - Norway becomes first lending country to audit loans made to developing countries. The audit finds some past loans wouldn't meet current UNCTAD principles on responsible lending. Read about Jubilee's perspective at Inter Press Service.
August 1 - Congress passes Senate student loan compromise. Read Jubilee's press statement. Thanks to the 60 Jubilee communities that prayed and acted for student debt relief.
July 5 - Jubilee USA's Executive Committee thanks President Obama for standing up to vulture funds. Read the letter we sent to the White House. Sign our thank-you letter to President Obama for working to stop vulture funds.
July 1 - Student loan interest rates doubled for nearly 7 million college students. Read our press statement. On the weekend of June 21st, over 60 faith communities prayed to protect our students' futures in our Jubilee for Students.
June 28 - President Obama is traveled to the African nations of Senegal, Tanzania and South Africa from June 26-July 3. Read our backgrounder and recommendations and our press statement on Common Dreams.
June 18 - Jubilee USA is quoted on a lead story by CNN Money on the G8's historic declaration on corporate transparency and tax avoidance. The declaration notes that wealthy nations are responsible for multinational companies and must make sure these companies don't dodge taxes in poor countries. Jubilee's Director, Eric LeCompte, is quoted in the Guardian and National Catholic Reporter.
June 13 - Jubilee USA applauds the EU for passing important profit and tax reporting for extractive industries operating in the developing world. Read our press statement to learn about these vital global poverty issues.
May 22 - European Ministers address international tax evasion and back Obama plan for global information sharing. See Jubilee's press statement.
May 1 - Tell Congress to cosponsor the Stop Tax Haven Abuse Act (HR1554). This legislation addresses a systemic cause of poverty - the fact that many multinational corporations don't pay taxes to developing and poor countries. A key way this legislation curbs tax avoidance is by requiring country-by-country reporting of corporate payments to governments. Read Jubilee's press statement on Common Dreams.
April 18 - At the International Monetary Fund spring meetings, Jubilee's Director, Eric LeCompte, was quoted in the Washington Post, NBC, CBS, the Miami Herald, the Associated Press, Agence France-Press and thousands of other outlets. During the IMF meetings, G20 financial ministers met to discuss debt and tax issues. Our reactions were shared globally in French and Spanish in an Agence France-Press article. See it at El Espectador.
April 15 - On Tax Day, Rep Lloyd Doggett (D-TX) introduced the Stop Tax Haven Abuse Act. This legislation closes offshore tax loopholes and requires country-by-country reporting of corporate tax payments to both developed and developing nations. This reporting is critical to curbing illicit financial flows, a systemic cause of poverty. Read Jubilee's press statement on Common Dreams.
April 9 - The EU agreed on Accounting and Transparency Directives. This law will order EU-listed and non-listed oil, gas, mining and logging firms to declare their payments to governments in countries where they operate - much like Dodd-Frank Section 1504 in the US. Read our statement in Common Dreams on what this means for the world's most vulnerable.
March 21 - Jubilee USA and the FACT Coalition organized and sent a letter to Senators to close offshore tax loopholes. Closing these corporate tax loopholes sends a message around the globe that corporate tax avoidance is unacceptable whether it be in the developing or developed world. Read our press release.
March 7 - Senator Carl Levin (D-MI) announces he will not seek reelection in 2014. Read Jubilee USA's statement.
February 26 - Eric LeCompte met with the German Embassy in DC on the eve of the London Accord. The Accord gave needed debt relief to Germany that was crucial to pave the way for their "economic miracle." Eric spoke about how this model could help nations that are highly indebted.
February 11 - Senators Carl Levin (D-MI) and Sheldon Whitehouse (D-RI) introduced the Cut Unjustified Tax Loopholes Act (CUT Loopholes Act). With the sequester right around the corner, this legislation would generate billions for the US by ending loopholes that allow the wealthiest corporations to dodge paying their fair share of taxes. This legislation would send a global message to end corporations' use of tax dodging that affect every day Americans and the world's poorest. Read our press statement.
February 7 - Senator Bernie Sanders (I-VT) and Representative Jan Schakowsky (D-IL) introduced the Corporate Tax Fairness Act that would generate more than $590 billion over the next ten years by closing offshore tax havens. This legislation would send a strong message that this kind of corporate behavior worldwide is unacceptable. Read Jubilee USA's press statement. Read the letter Jubilee USA signed in support of the legislation with dozens of partner organizations.