Eric LeCompte, Executive Director of Jubilee USA was recently featured in Devex. In the article, LeCompte discusses the release of a playbook on debt restructuring proposed by world leaders at the World Bank and IMF Spring Meetings. He discusses the statements made by Kristalina Georgieva and Treasury Secretary Scott Bessent, as well as the need to deal with the debt crisis and tariffs. Read an excerpt below, or the full article here.

US tariffs threaten to push debt-distressed nations closer to the brink

By: Jesse Chase-Lubitz

"The playbook guides countries on how to assess debt sustainability, whom to hire on legal and financial issues, and how to engage early with creditors.

"Eric LeCompte, executive director of Jubilee USA, said that the playbook “puts more information at the hands of countries trying to get out of the debt crisis.” However, the playbook is “limited” and “doesn’t offer the creative thinking that we need to get to economic stability,” he added.

In the meantime, the IMF has said that cuts in development aid, trade tensions, and possible rising inflation in some countries will push more countries into deeper debt crises.

“Both the IMF’s head, Kristalina Georgieva, and Treasury Secretary Scott Bessent made helpful statements about the real need to deal with debt challenges in a more preemptive way and before we reach a crisis,” said LeCompte, referring to remarks from Bessent on Wednesday about the need to “minimize periods of debt distress.”

However, LeCompte added that while the statements are “really helpful, we are seeing little action to actually resolve the greater debt crises that will now unfold.”"


Read more here.