Crux covers Jubilee USA Network's historic meeting with Treasury Secretary Janet Yellen on responses to the COVID pandemic. Read an excerpt below, and click here for the full story.

Catholic bishops meet with U.S. Treasury head to discuss COVID economic crisis

By John Lavenburg

The religious leaders met with U.S. Treasury Secretary Janet Yellen to discuss the global economic response to the COVID-19 pandemic, Puerto Rico’s debt and climate change. It was organized by Jubilee USA Network; a coalition of religious, development and advocacy groups that focuses on policies that help end poverty.

Economic relief for the poorest countries in the world through debt payment suspension was another focus of the meeting. According to LeCompte, the 73 poorest countries in the world have qualified for the Debt Service Suspension Initiative – 40 of which have taken advantage of it for about $12 billion in relief.

A readout from the U.S. Department of Treasury after the meeting said Yellen supports “the implementation of the Debt Service Suspension Initiative (DDSI).” And she views potential SDR allocation “as part of a broader package of assistance to low-income countries.” The readout closed that the Biden administration is “committed to using the full power of the U.S. federal government to address climate change as part of the Build Back Better plan.”

 

Read the full article here.