"I think there is going to be carry-over in certain areas with the U.S. taking the mantle," he said."
Read more here.
-
Brigid Smith published 2026 G20 Pilgrimage & Interfaith Sermon Series in Act Now 2026-03-12 15:59:28 -0400
G20 Pilgrimage & Interfaith Sermon Series
We invite your congregation to join Jubilee USA’s activities as we build on the Jubilee campaign moral mandate and leadership of the late Pope Francis, now carried forward by Pope Leo. This year presents a unique opportunity: the United States chairs the G20, the global forum where top finance leaders shape international policy on debt, economic stability, health, trade and jobs. As the U.S. prepares to host its first G20 since 2008, we are mobilizing Jubilee Congregations and Faith Communities to press world leaders to make stronger commitments on debt relief and an international financial architecture that puts poverty reduction at its center.
Key dates:
IF20 Washington Policy Forum, Georgetown, DC: May 26, 2026
IF20 Annual Forum, Salt Lake City, Utah: October 15-17, 2026
G20 Leaders' Summit, Miami, Florida: December 14-15, 2026
As our Jubilee Congregations and Faith Communities mobilize for a pilgrimage ahead of the G20 Summit in Miami in December, we are hosting monthly Congregation calls on the first Tuesday of every month at 1:00 pm EST, including a short sermon by faith leaders across the country. If you are interested in offering a sermon at one of our meetings or want more information, please contact Liam Shemesh at [email protected]. Together, we can ready our hearts, deepen our relationships and discern how we are called to faithful public witness on debt relief.
To register for a Zoom link to attend the monthly Congregation calls, click here.
To read more on our Jubilee 2025 Resource Hub, click here.
To sign our Jubilee petition, click here.
If you were unable to attend a meeting, or want to catch up on a past sermon, see below:
Rev. Dr. Caleb J. Lines on the Biblical Roots of Jubilee, Feb. 3rd
Rabbi Matthew Cutler on Justice, Charity and Righteousness, March 3rdSermon Schedule:
Month
Sermon Theme
Speaker
Date
February
Biblical Roots of Jubilee
Rev. Dr. Caleb J. Lines
Feb 3
March
Charity, Justice and Righteousness
Rabbi Matthew Cutler
March 3
April
The First Step of Redemption and Salvation is Noticing/ How the Debt Crisis Affects Real People
Rev. Dr. Nicolle D. Jean-Simon April 7
May
Debt is a Development Issue
TBD May 5
June
Collaboration vs. Extraction
Rabbi Fred Scherlinder Dobb June 2
July
July 7
August
August 4
September
The Season of Creation
Diandra Garcia
September 1
October
Hope and Restoring Dignity
Charlene Howard October 6
November
Pilgrimage as a Journey of Solidarity
TBD November 3
December
Prayer for Jubilee and the New Year
Pastor Steve Herder December 1
-
Jubilee Monthly Interfaith Sermons
Past Sermons:
February 3: Rev. Dr. Caleb J. Lines on the Biblical Roots of Jubilee
Sermon Schedule:Month
Sermon Theme
Speaker
Date
February
Biblical Roots of Jubilee
Rev. Dr. Caleb J. Lines
Feb 3
March
Charity, Justice and Righteousness
Rabbi Matthew Cutler
March 3
April
The First Step of Redemption and Salvation is Noticing/ How the Debt Crisis Affects Real People
Rev. Dr. Nicolle D. Jean-Simon April 7
May
Debt is a Development Issue
TBA May 5
June
Collaboration vs. Extraction
Rabbi Fred Scherlinder Dobb June 2
July
July 7
August
August 4
September
The Season of Creation
Diandra Garcia
September 1
October
Hope and Restoring Dignity
Charlene Howard October 6
November
Pilgrimage as a Journey of Solidarity
TBA November 3
December
Prayer for Jubilee and the New Year
Pastor Steve Herder December 1
-
US G20, Gifts Doubled
Dear Friend,
As the United States prepares to host world leaders for the 2026 G20, our Jubilee efforts feature high on this year's G20 agenda. Over the coming months we'll need your help as we urge world leaders to take more action on debt, jobs and economic stability.
As we mobilize our national and international Jubilee community to join us during this year's US G20 meetings, please make a tax-deductible gift to support these critical efforts. When you make a contribution now, it will be matched and doubled.
In 2026, we'll build on all we achieved this past year. Here are some of our 2025 achievements:- With Pope Francis and interfaith religious leaders, we launched Jubilee Year 2025, we set into motion Jubilee campaigns in over 160 countries for the next five years. We supported major events and pilgrimages at the Canada G7, South Africa G20, IMF and United Nations to move world leaders on debt relief and aid to end poverty.
-
With key interfaith, development, labor and business partners, we advanced commitments from world leaders and the US government to support debt relief. With the US Conference of Catholic Bishops we wrote to President Trump to support debt relief policies that stabilize food and fuel prices, protect our economy, workers and taxpayers and address poverty and development abroad.
-
At the UN Financing for Development Conference in Sevilla, Spain, we joined world leaders and 70 heads of state and won commitments on debt relief, responsible lending and borrowing, tackling corruption and new debt relief processes.
-
Organizing Nobel laureates, former ministers and the world’s most notable experts, we published and presented high-level IMF and World Bank recommendations to ensure development, climate and transparency are part of debt decisions and at the IMF, World Bank, G7, G20 and United Nations.
-
In the New York State legislature, our bill to stop predatory “vulture funds,” passed the Senate and now awaits passage in the Assembly so the Governor can sign into law.
-
We continued implementation of our Jubilee Corporate Transparency Act, a pivotal tool to curtail human trafficking, protect aid and prevent corruption and tax evasion.
-
We organized and supported more than 100 African faith leaders to influence G20, G7, UN, IMF and World Bank processes.
-
Following our multi-year advocacy with Puerto Rico and US religious leaders to expand social programs on the island, a bipartisan group of lawmakers introduced legislation to increase food aid to the vulnerable. We partnered with legal experts and religious leaders to prevent the island from paying out billions in debt to creditors, allowing recovery from hurricane, earthquake, economic shocks and the child poverty epidemic.
-
We moved US and G20 leadership to support initiatives expanding development bank loans and grants, which could translate to hundreds of billions of development aid.
-
Our Jubilee efforts appeared in hundreds of thousands of news outlets around the world.
Eric LeCompte
Executive Director
Jubilee USA Network
[email protected]
Twitter: @Eric_LeCompte
www.jubileeusa.org/support-us
-
2025 End of Year Report
Click here to review the report.
-
2025 Jubilee Report and Reflection
Dear Friends,
As 2025 draws to a close, we reflect on the Jubilee Year and campaigns taking place across the globe. 2025 was one of the most incredible global mobilizations in our history.
Read and share our Jubilee 2025 report and see where we've gone and where we are heading.
Together, through 2030 we'll expand Jubilee efforts in more than 160 countries. In the coming year, we'll host the global movement as the US takes over the G20.
Please review and share our Jubilee 2025 news.
Gratefully,
Aldo Caliari
Senior Director of Policy and Strategy
Jubilee USA Network
[email protected]
www.jubileeusa.org/support-us
-
Brigid Smith published Eric LeCompte Featured in Reuters Discussing US G20 Presidency and Development in Press 2025-11-25 09:13:12 -0500
Eric LeCompte Featured in Reuters Discussing US G20 Presidency and Development
Eric LeCompte, Executive Director of Jubilee USA was recently featured in Reuters speaking on the G20 as the United States assumes its presidency, and issues like development and economic growth. Read the excerpt below and follow the link to full article.
G20 declaration in defiance of US marks rare victory for multilateralism
By: Tim Cocks and Andrea Shalal
"Despite the bitter differences, Washington's G20 agenda overlaps with South Africa's in key areas like development, economic growth and financial stability, notes Eric LeCompte, a U.N. adviser and executive director of non-profit Jubilee USA Network.
-
Brigid Smith published Devex Spotlights Eric LeCompte After G20 Leaders' Declaration in Press 2025-11-25 09:05:10 -0500
Devex Spotlights Eric LeCompte After G20 Leaders' Declaration
Eric LeCompte, Executive Director of Jubilee USA was recently featured in Devex speaking on the G20 Leaders' Declaration and global debt. Read the excerpt below and follow the link to full article.
G20 summit in South Africa adopts declaration without the US
By: Elissa Miolene
"Still, the leaders’ declaration did recognize the climbing debt burden facing countries in Africa, and the high cost of capital for nations across the continent. For Eric LeCompte, the executive director of the debt-focused Jubilee USA Network, that mattered — along with the G20’s recent launch of the Africa Engagement Framework, which aims to lock in the G20’s cooperation with Africa, and keep the continent’s most pressing financial issues on the agenda over the next five years. South Africa has committed to supporting the framework until 2030.“There’s a plan for implementation, the goals are solid, and it actually translates some of the other issues that we really are concerned about in terms of economic growth, finance, debt and development,” said LeCompte. “We’ve never had an initiative like this since the G20 began.”"
Read more here.
-
Brigid Smith published Eric LeCompte Speaks on G20 Leaders' Declaration as South Africa G20 Comes to a Close in Press 2025-11-24 11:32:46 -0500
Eric LeCompte Speaks on G20 Leaders' Declaration as South Africa G20 Comes to a Close
Eric LeCompte, Executive Director of Jubilee USA was recently featured in IOL speaking on the G20 Leaders' Declaration and G20 Common Framework. Read the excerpt below and follow the link to full article.
G20 Summit in SA trumps detractors, puts poor countries’ issues at center of global discourse
By: Siphelele Dludla
"Eric LeCompte, executive director of the religious development group Jubilee USA Network, said the statement called for improving the Common Framework, the G20 process for countries seeking debt reductions.
“The fact that the Common Framework, in five years, provided debt treatment to only four countries that requested it, is a diplomatic way of stating its limitations, since we know 26 countries have been in debt crises since at least 2018,” LeCompte said.
“The declaration seems to indicate that the G20 would like the Common Framework to become a more bankruptcy-like process or comprehensive debt restructuring process. It's unprecedented for G20 leaders to call for inclusion of borrower countries to improve international debt policies.”Read more here.
-
Brigid Smith published Reuters Features Eric LeCompte as South Africa Hands Over G20 Presidency to the US in Press 2025-11-24 11:14:00 -0500
Reuters Features Eric LeCompte as South Africa Hands Over G20 Presidency to the US
Eric LeCompte, Executive Director of Jubilee USA was recently featured in Reuters speaking on the G20 Ministerial Declaration on Debt Sustainability, Africa Engagement Framework and beginning of the US G20 presidency. Read the excerpt below and follow the link to full article.
South Africa's G20 debt focus to be tested as US takes the chair
By: Colleen Goko
"South Africa tried to reinvigorate efforts during its year as G20 chair. The group's finance ministers issued a stand-alone Ministerial Declaration on Debt Sustainability – the first since the pandemic - and committed to strengthening the Common Framework.
The framework has delivered debt treatments to four nations — Chad, Zambia, Ghana, and Ethiopia — since its launch.
Eric LeCompte, executive director of development group Jubilee USA Network, said this showed the limitations.
But he said the agenda of the United States, which will lead the G20 until late 2026, included addressing debt challenges, boosting economic growth and expanding job creation - offering some continuity.
LeCompte said the G20 Africa Engagement Framework, launched in October by its finance ministers to address hurdles to growth and development on the continent, marked an accomplishment.
It will deal with issues "from economic growth to debt and financing to development to anti-poverty initiatives to creating jobs across the continent," said LeCompte."Read more here.
-
Brigid Smith published Jubilee USA Statement on G20 South Africa Leaders' Declaration in Press 2025-11-22 10:24:30 -0500
Jubilee USA Statement on G20 South Africa Leaders' Declaration
Johannesburg, South Africa – The G20 Leaders' Summit began on Saturday in Johannesburg, South Africa, where the Group of 20 leaders adopted a declaration addressing global challenges.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network who monitored G20 meetings since 2010, releases the following statement on the G20 South Africa Leaders' Declaration:
"The G20 acknowledged the severe challenges we face with development and hundreds of millions of people experiencing hunger.
“G20 leaders recognized high debt levels in developing countries hurt growth, development, and the ability to address poverty and disasters.
“The statement called for improving the Common Framework, the G20 process for countries seeking debt reductions.
“The fact that the Common Framework, in five years, provided debt treatment to four countries that requested it, is a diplomatic way of stating its limitations, since we know 26 countries have been in debt crises since at least 2018.
"The G20 leaders called for the Common Framework to improve and offer speedy, predictable, comprehensive and efficient debt relief.
"The declaration seems to indicate that the G20 would like the Common Framework to become a more bankruptcy-like process or comprehensive debt restructuring process.
“The declaration calls for improving common understanding by all creditors and debtors on how to address debt crises and restructuring.
“It's unprecedented for G20 leaders to call for inclusion of borrower countries to improve international debt policies.
“The G20 is part of a global consensus that debt transparency is a key priority.
“There is a stark focus on the challenges Africa faces, including energy, growth and inequality.
“A significant innovation the Leaders endorsed is the Africa Engagement Framework to support economic, financial and growth objectives.
“The Africa Engagement Framework is designed to ensure that G20 cooperation with Africa becomes more permanent beyond this year.
“South Africa’s offer to support the new framework and organize regional cooperation with African institutions can give this new initiative real staying power."Read the full G20 Leaders' declaration here.
Read Jubilee USA's press release on two reports released during the South Africa G20 Summit here.
Read Jubilee USA's press release on the South Africa G20 Summit here.
View Jubilee's events this week at the G20 meetings here.
Read Jubilee USA's press release on the G20 debt declaration here.
Read the full G20 ministerial declaration on debt sustainability here.
-
Brigid Smith published G20 Presidents and Prime Ministers Focus on Debt, Development and the Economy in Press 2025-11-21 09:42:06 -0500
G20 Presidents and Prime Ministers Focus on Debt, Development and the Economy
Two New G20 Reports Note Concerning Debt Statistics
Religious Leaders Call for Debt Relief to Address Poverty during SummitJohannesburg, South Africa – World leaders arrive for the first G20 Summit hosted in Africa, led by the South African government.
"We head into this summit with terrible reports on the economy and debt levels in developing countries," stated Eric LeCompte, the Executive Director of the religious development organization Jubilee USA Network. LeCompte, who serves on UN debt expert groups, is in Johannesburg for the meetings. "If we don't deal with the global debt problem, all countries will continue to suffer from too high food and fuel prices."
Two new reports released ahead of the Summit focus on challenges with global debt to inform the attending presidents and prime ministers this weekend. One report comes from an expert panel commissioned by the South African government and the other prepared by the International Monetary Fund.
"The new G20 reports on debt share startling statistics," said LeCompte. "Before the new reports were released, we already had data that 26 countries faced debt crises since 2018 and only four applied for the debt relief process the G20 created during the pandemic."
The G20 debt process, the Common Framework, works poorly according to a G20 debt report commissioned by the South African government. The report from the Africa Expert Panel, comprising 36 members and chaired by former South African finance minister Trevor Manuel, was released two days ahead of the G20 Summit.
"Countries don't have a viable process to get debt relief," explained LeCompte. "In Africa, countries are spending half to two-thirds of their revenue on debt. In order to meet debt payments, too many African countries are cutting spending on health, education and social programs."
In October G20 finance ministers released a joint declaration stating high debt levels undermine investment in infrastructure, disaster preparedness, healthcare and education in developing countries.
"We've reached consensus that debt levels are too high and hurting developing countries and the global economy," shared LeCompte. "We haven't reached consensus on implementing effective solutions to tackle the debt problem."
The Johannesburg Summit coincides with a Jubilee Year celebrated by global faith communities as a sacred year. Last Christmas, Pope Francis, South Africa International Relations Minister Ronald Lamola, interfaith groups and Jubilee USA Network launched the social focus of Jubilee 2025 to win debt relief, economic aid and international financial policies that reduce poverty. Hundreds of faith leaders are present in South Africa to advocate for better debt policies and deliver a petition that already gathered 200,000 signatures worldwide.
"During this Jubilee Year, we launched 5 years of debt relief efforts in 160 countries," expressed LeCompte. "The longer we wait to act means more people suffer and more kids will go to bed hungry."
Read the G20 Africa Expert Panel's report here.
Read the full IMF report on the G20 here.
Read Jubilee USA's press release on the South Africa G20 Summit here.
View and join Jubilee's events this week at the G20 meetings here.
Read Jubilee USA's press release on the G20 debt declaration here.
Read the full G20 ministerial declaration on debt sustainability here.
-
Brigid Smith published America Magazine Spotlights Eric LeCompte on G20 and Poverty in Press 2025-11-20 17:00:21 -0500
America Magazine Spotlights Eric LeCompte on G20 and Poverty
Eric LeCompte, Executive Director of Jubilee USA was recently featured in America Magazine speaking on poverty reduction, the G20 and global debt. Read the excerpt below and follow the link to full article.
We know how to fight global poverty. But do we have the energy to actually do it?
By: Kevin Clarke
“Despite the uncertainty at this year’s summit, Mr. LeCompte remains confident that the church and other humanitarian and anti-poverty advocates “are building a consensus on ending poverty.”
Those campaigners have won incremental successes, he said. But most wanted now are large-scale efforts that can only be initiated and maintained by the wealthiest states. “We need to move the G20, G7, [International Monetary Fund] and World Bank on more robust policies and implementation.”Read more here.
-
Brigid Smith published All Africa Features Eric LeCompte on Debt and G20 Summit in Press 2025-11-19 09:50:55 -0500
All Africa Features Eric LeCompte on Debt and G20 Summit
Eric LeCompte, Executive Director of Jubilee USA, was recently featured in All Africa speaking on the approaching G20 Summit in South Africa and its focus on debt. Read the full feature here.
-
Brigid Smith published South Africa Hosts First G20 Africa Summit in Press 2025-11-18 15:26:35 -0500
South Africa Hosts First G20 Africa Summit
Debt High on G20 Agenda as Faith Leaders Call for Debt Relief and Aid for Developing Countries
Johannesburg, South Africa – This weekend, G20 presidents and prime ministers meet on debt, development and the global economy, chaired by South Africa. The meetings take place for the first time in Africa.
“South Africa made debt a key focus of this year's G20,” said Eric LeCompte, Executive Director of the religious development organization Jubilee USA Network. LeCompte is in Johannesburg for the meetings. “Debt is the only issue that the G20 reached some consensus on this year."
In October, G20 finance ministers met in Washington during the IMF meetings and adopted a consensus declaration on debt. Not since 2020 had the group of wealthy countries achieved a single separate statement on debt.
South Africa’s G20 Presidency unveils a report on debt and global economic challenges that impact development. Former South African Finance Minister Trevor Manuel led an expert group to create the report for the G20.
“The Manuel report raises concerns about how debt and a lack of fairness in the global economy hurt Africa," noted LeCompte. "Faith leaders from around the world and across Africa are descending on Johannesburg to press the G20 for greater action on debt and development."
The Johannesburg summit coincides with the holy Jubilee 2025 Year. Last December 23rd and 24th at the Vatican, Pope Francis, interfaith leaders, Jubilee USA, Caritas and South Africa's Foreign Minister launched five years of campaigns to address current debt crises and prevent future crises.
Last month the IMF characterized global economic prospects as “dim,” with global debt continuing to rise.
View and join Jubilee's events this week at the G20 meetings here.
Read Jubilee USA's press release on the G20 debt declaration here.
Read the full G20 ministerial declaration on debt sustainability here.
-
G20 2025 Jubilee Events
A Jubilee for Solidarity: Towards a People and Planet Driven Financial Architecture for Africa
November 19, 2025 | 9:00 - 11:00 am SAST, 2:00 - 4:00 am Washington DC, 10:00 am - 12:00 pm Addis Ababa, 1:00 - 3:00 am St. Paul, 11:00 pm - 1:00 am San Diego, 2:00 - 4:00 am Bogotá, 4:00 - 6:00 am Buenos Aires, 8:00 - 10:00 am Cologne, 10:00 am - 12:00 pm Abu Dhabi, 3:00 - 5:00 pm Manila, 2:00 - 4:00 pm Jakarta
This G20 event brings together global faith leaders to explore and reimagine debt relief and sustainable development driven by the G20 commitments.
Sponsors: Caritas Internationalis, Caritas Africa, The Symposium of Episcopal Conferences of Africa and Madagascar (SECAM), Southern African Catholic Bishops' Conference (SACBC)
Location: Varna Room, Birchwood Hotel, Johannesburg, South Africa
Livestream available online: https://www.youtube.com/live/Wkz0YIRNvdU
G20 Interfaith Forum: Pathways for Partnership with Religious Communities and the G20November 19, 2025 | 2:00 - 4:00 pm SAST, 7:00 - 9:00 am Washington DC, 3:00 - 5:00 pm Addis Ababa, 6:00 - 8:00 am St. Paul, 4:00 - 6:00 am San Diego, 7:00 - 9:00 am Bogotá, 9:00 - 11:00 am Buenos Aires, 1:00 - 3:00 pm Cologne, 4:00 - 6:00 pm Abu Dhabi, 8:00 - 10:00 pm Manila, 7:00 - 9:00 pm Jakarta
Moderator: Professor Cole Durham
President G20 Interfaith Forum
Moderator: Professor David Mosoma
G20 Interfaith Local Organising Committee Chair
Pastor Bert Pretorius
Founder of the South African Community of Faith-Based
Fraternals and Federations (SACOFF), South Africa
Eric LeCompte
Executive Director, Jubilee USA Network
Dr Sylvia Pheto
Commissioner CRL Rights Commission, G20 Interfaith Local Organising Committee
Kevin Hyland OBE
CEO Prevent GlobalThis G20 event is a panel of global, African Union and South African experts highlighting ways that diverse religious communities can build effective partnerships with the public sector to contribute to achievement of our G20 objectives. The panel draws on what was learned through G20 Interfaith Forum dialogue and experience.
Location: Cedarwood Room, Atrium Center, Birchwood Hotel, Johannesburg, South Africa. Prior registration required.
RSVP to join virtually if link is available or receive a video copy contact Maria Kolb at [email protected]
Jubilee Prayers for People and Planet
November 21, 2025 | 2:00 - 3:30 pm SAST, 7:00 - 8:30 am Washington DC, 3:00 - 4:30 pm Addis Ababa, 6:00 - 7:30 am St. Paul, 4:00 - 5:30 am San Diego, 7:00 - 8:30 am Bogotá, 9:00 - 10:30 am Buenos Aires, 1:00 - 2:30 pm Cologne, 4:00 - 5:30 pm Abu Dhabi, 8:00 - 9:30 pm Manila, 7:00 - 8:30 pm Jakarta
Global, regional and South African inter-religious leaders and organizations herald 5 years of Jubilee campaigns and encourage the G20 to move policies on debt relief, economic aid for developing countries and improving the financial system to end poverty and heal our planet.
Location: Constitution Hill, Johannesburg, South AfricaSponsors: Jubilee USA Network, All Africa Conference of Churches, Laudato Si' Movement, Christian Aid, Caritas Internationalis, Caritas Africa, The Methodist Church of Southern Africa, World Council of Churches
In-person registration required. You can register here: https://wetheninetynine.com/register/Livestream available online: https://wetheninetynine.com/livestream/
Read Jubilee USA's Executive Director Eric LeCompte's thoughts ahead of the G20 in Devex: https://www.jubileeusa.org/feature_devex_nov_18_25
-
Brigid Smith published Devex Quotes Eric LeCompte Ahead of G20 Summit in Press 2025-11-18 13:30:15 -0500
Devex Quotes Eric LeCompte Ahead of G20 Summit
Eric LeCompte, Executive Director of Jubilee USA, was recently featured in Devex speaking on debt relief and restructuring ahead of the G20 Summit in South Africa. Read the excerpt below and follow the link to full article.
What are the key issues at stake at the G20 summit in South Africa?
By: Elissa Miolene
“We go into this G20 meeting knowing that, with all the challenges in the world, the only consensuses that the G20 currently has is on debt and economic growth. And I think that’s really important,” said Eric LeCompte, the executive director of the Jubilee USA Network, a coalition focused on debt reform. “I think we’re going to hear more about the need for faster and speedier debt restructuring and debt relief [at the Leaders’ Summit].”
But even so, LeCompte added, the world is still moving slowly on implementation. He referred to the past year’s progress on debt as “bittersweet,” adding that while there’s been some movement — and importantly, stronger visibility on debt issues — implementation has continued to move slowly."
Read more here.
-
Brigid Smith published Ahead of US G20 Presidency, Consensus Statement Reached on Debt by World Leaders at IMF Meetings in Press 2025-10-27 12:42:49 -0400
Ahead of US G20 Presidency, Consensus Statement Reached on Debt by World Leaders at IMF Meetings
South Africa G20 Presidency Focuses on Debt Relief
Washington DC – Last week the IMF and World Bank meetings concluded as world leaders raised grave concerns on the future of the global economy. Debt will rise to more than 100% by 2029 according to the IMF.
"The only consensus reached as we left the IMF meetings and now head to South Africa for the G20 Summit, is that we must deal with global debt and improve how our global economy functions," noted Eric LeCompte the Executive Director of Jubilee USA Network and a United Nations debt expert.
Jubilee USA, Caritas Internationalis and other groups delivered to the IMF and World Bank a petition with 200,000 signatures calling for debt relief for developing countries. In the week preceding the meetings, in his first major official doctrinal document, Pope Leo XIV urged world leaders to take action in order to end global poverty.Read Jubilee USA's statement on the IMFC meetings here.
Read Jubilee USA's statement on the G20 ministerial meeting here.
Read Jubilee USA's press release on the IMF Global Financial Stability Report and World Economic Outlook report here.
Read Jubilee USA's statement on the IMF World Economic Outlook Report here.
Read Jubilee USA's statement on the Global Financial Stability Report here.
View and join Jubilee's events this week at the IMF, World Bank and G20 meetings here.
Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.
Read our Jubilee analysis on Pope Leo's first official teaching document “Dilexi Te,” released ahead of this week's meetings calling on world leaders to ensure the poor are at the center of economic decisions, here.
-
Brigid Smith published Jubilee USA Statement on IMFC Meetings and the IMF Annual Meetings in Press 2025-10-17 14:42:27 -0400
Jubilee USA Statement on IMFC Meetings and the IMF Annual Meetings
Washington DC – The International Monetary Financial Committee, the IMF policymaking body, met on Friday during the IMF and World Bank Annual meetings to discuss the global economic situation, debt and other challenges.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitored IMF meetings since 2010, releases the following statement on the IMFC Chair's statement and the IMF meetings:
"Low economic growth and countries holding high debts is a very serious problem impacting most countries, but poor countries are wrestling with the greatest challenges.
"For developing countries, high debt service payments will continue to grow.
"We saw more commitments to make debt restructuring more timely and adequate, but there is limited progress.
"The IMF fears that we will see even lower economic growth in the future.
"Uncertainty in the economy and job creation weighed heavily on the minds of all of us at this year’s IMF and World Bank meetings.
"It is absolutely urgent for us to follow Pope Leo’s message that the poor must be at the center of our economic policy decisions."
Read the IMFC Chair's full statement here.
Read Jubilee USA's statement on the G20 ministerial meeting here.
Read Jubilee USA's press release on the IMF Global Financial Stability Report and World Economic Outlook report here.
Read Jubilee USA's statement on the IMF World Economic Outlook Report here.
Read Jubilee USA's statement on the Global Financial Stability Report here.
View and join Jubilee's events this week at the IMF, World Bank and G20 meetings here.
Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.
Read our Jubilee analysis on Pope Leo's first official teaching document “Dilexi Te,” released ahead of this week's meetings calling on world leaders to ensure the poor are at the center of economic decisions, here.
-
Brigid Smith published Eric LeCompte Quoted on the G20 Declaration on Debt in Reuters in Press 2025-10-16 20:48:28 -0400
Eric LeCompte Quoted on the G20 Declaration on Debt in Reuters
Reuters quotes Eric LeCompte, Executive Director of Jubilee USA, on the G20 and its recent declaration on debt during the IMF and World Bank Annual Meetings. Read an excerpt below or the full article here.
G20 vows to keep focus on developing countries' debt issues
By: Andrea Shalal
"Eric LeCompte, executive director of Jubilee USA Network, said unsustainable debt remained a G20 priority, noting that developing countries spent $921 billion on interest payments alone - not principal - in 2024, a 10% jump from 2023, with more increases expected this year.
"We see a consensus around the severity of debt payment challenges, but not yet a consensus on how to solve the debt challenges," he said. "Countries cannot borrow their way out of this crisis."
Read more here.
-
Brigid Smith published Jubilee USA Statement on G20 Finance Ministers Meeting During the IMF and World Bank Annual Meetings in Press 2025-10-16 14:09:00 -0400
Jubilee USA Statement on G20 Finance Ministers Meeting During the IMF and World Bank Annual Meetings
Washington DC – G20 finance ministers met during the IMF and World Bank Annual meetings with an agenda focused on global economic growth, economic challenges and debt. While the G20 failed to release a joint communique, they did issue a joint consensus statement on debt.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitors G20 meetings, releases the following statement on the G20 finance ministers meeting during the IMF and World Bank Annual meetings:
"The G20 is very concerned by sluggish economic growth, uncertainty in the economy and financial market vulnerabilities.
"This is the first time since 2020, when the pandemic raged, that the G20 released a separate communique on debt.
"The G20 acknowledges that unsustainable debt is a priority and we can't improve the economy and create jobs without addressing global debt.
"In 2024, developing countries spent $921 billion on just interest payments. That's more than a 10 percent increase from 2023 and 2025's numbers will be even worse.
"We see a consensus around the severity of debt payment challenges, but not yet a consensus on how to solve the debt challenges.
"Countries cannot borrow their way out of this crisis.
"High debts in developing countries mean we are facing a serious development crisis and low prospects of global economic growth.
"It is incredibly significant that the G20 agreed that borrowing countries need to have a bigger voice in shaping solutions to debt challenges.
"While the G20 couldn't agree on a joint communique, they came together around the debt issues."While we have a lot of work to do together, we have a strong G20 consensus that debt and financial crises must be addressed."
Read the full chair's statement and ministerial declaration on debt sustainability here.
Read Jubilee USA's press release on the IMF Global Financial Stability Report and World Economic Outlook report here.
Read Jubilee USA's statement on the IMF World Economic Outlook Report here.
Read Jubilee USA's statement on the Global Financial Stability Report here.
View and join Jubilee's events this week at the IMF, World Bank and G20 meetings here.
Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.
Read our Jubilee analysis on Pope Leo's first official teaching document “Dilexi Te,” released ahead of this week's meetings calling on world leaders to ensure the poor are at the center of economic decisions, here.
