Eric LeCompte and Jubilee USA featured in Front Page Africa on the IMF's decision to allocate $650 billion global reserve funds, $350 million of which would benefit Liberia. Read an excerpt below, and click here for the full story.
Liberia to Benefit US$350M from IMF US$16Bn Aid to Poor Countries for Post-Covid Recovery
Jubilee USA Network, a nonprofit organization that advocates debt relief for poor countries, praised the move by the I.M.F. and called on wealthy countries to do more to help.
“This is the biggest creation of emergency reserve funds that we’ve ever seen, and developing countries will immediately receive more than $200 billion,” said Eric LeCompte, executive director of Jubilee USA Network. “Wealthy countries who receive emergency reserves they don’t need should transfer those resources to developing countries struggling through the pandemic.”
The I.M.F., the World Bank, the World Health Organization and the World Trade Organization have created a new vaccine task force and called for an additional $50 billion investment to broaden access to supplies. The groups have also called on G20 countries to set a goal of having 40 percent of their populations vaccinated by the end of this year and 60 percent by the middle of next year.
Read more here.