Friends,

Thanks to your support and partnership, today the IMF creates $650 billion in emergency funds to fight the global coronavirus health and economic crises.

At the dawn of the pandemic in March of 2020, Jubilee USA called for the creation of this emergency aid known as Special Drawing Rights (SDRs). Together, we organized 268 religious institutions, unions, environmental groups and development organizations to call on the G20, IMF and White House to support the SDRs. We mobilized thousands of petitions so developing countries could have resources for pandemic response. Working with our Latin American partners, Latindadd - we organized 240 global groups to move the G20.

While this aid is critical and a historic victory, more needs to be done. 

Wealthy countries receive SDRs that they don't need and we need to ensure they donate them to developing countries ravaged by the pandemic. In the next year, we will likely need another creation of emergency funds for developing countries. Our related pandemic response proposals on debt relief, aid, climate change, vaccine distribution and global tax agreements are all being considered by the G20, G7 and IMF.  Please sign our pandemic response petition to world leaders so we can win more SDRs and our critical proposals to save lives and livelihoods. 

More than $230 billion of SDRs goes to developing low-income and middle-income countries. This is most aid we've ever won for developing countries. More than all of the debt relief and disaster aid we've won in nearly 25 years of campaigns.

At the same time, because wealthy countries have more power at the IMF, G7 countries will receive more than $280 billion. Wealthy countries that won't use their SDRs need to donate them to countries who lack the resources for healthcare, social programs and COVID response. Jubilee USA estimated what each country will receive.

Please sign and share our petition to world leaders to move forward more aid and relief for global pandemic response.

In recent weeks, thousands of newspapers, radio and television shows reported on our Jubilee USA efforts. Our analysis appears in FOX News, the New York Times, the Boston Globe, the Irish Times, CNN, your local paper and Bloomberg, Reuters and the Associated Press.

As the media continues to cover our efforts, we prepare for the next round of global decisions by the G20 and IMF this October. As they meet, we'll hold hundreds of petition drives, events and prayer services for Jubilee Weekend on global pandemic response.

Because of your support, we organized some of the highest ranking religious leaders to meet with Treasury Secretary Yellen and US Trade Rep, Ambassador Tai. Today, we are meeting with the US decision maker at the IMF.

Vaccines, debt relief, aid, climate and tax decisions will be made by the IMF, G20 and WTO this fall. We need your help to move them on a pandemic response that lifts the vulnerable and protects our planet.

These letters, meetings, and actions make a difference. They move world leaders by showing that we care and we're willing to act to protect the vulnerable in this crisis and prevent future crises. Because of your support, we organized some of the highest ranking religious leaders to meet with Treasury Secretary Yellen and US Trade Rep, Ambassador Tai. Today, we are meeting with the US decision maker at the IMF.

Thank-you for making this work possible. Across the US and around the world we continue to lose friends and partners to COVID. Our work to stop the pandemic and build a more resilient world has never been more important.

Thank-you,

Eric

Eric LeCompte
Executive Director

Twitter: @Eric_LeCompte