Common Dreams quotes Eric LeCompte on Jubilee USA's letter urging additional debt relief measures in low- and middle-income countries. Read an excerpt below, and click here for the full story.
'We Must Do More': Hundreds of Advocacy Groups Urge Biden, G20, and IMF to Increase Pandemic Aid
By Common Dreams
While both the G20 and IMF have agreed to temporarily suspend debt payments for dozens of developing nations, Eric LeCompte, a United Nations finance expert who heads the Jubilee USA Network, said these moves are not enough.
"World leaders worked hard over the last year to tackle the health and economic crises spurred by the [Covid-19] pandemic," said LeCompte on Wednesday. "We must do more. Unless we take immediate action to solidify more aid and relief, we face lost decades of development and millions more will suffer."
Finance ministers from G7 nations—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—last month agreed to create emergency reserve funds, or Special Drawing Rights (SDR), in what LeCompte at the time called an effort "to confront the [Covid-19] economic crisis that is ravaging developing countries."
Read the full article here.