Jubilee USA Statement on Final G20 Declaration

The annual G20 Summit concludes in Hamburg, Germany and leaders of the G20 release their final declaration.

Eric LeCompte, Executive Director of the religious development group Jubilee USA, releases the following statement:

“The G20 concluded with some progress on financial stability issues like debt, transparency and taxes. On climate we see the United States backtracking. On trade, the divisions will continue to grow until the G20 can look at trade policies that are more fair to workers and the poor.

"The G20 needs to look at how a global bankruptcy process can further promote economic stability.‎ While more needs to be done to stop the next financial crisis, the G20 moved efforts forward on debt policies to prevent predatory financial behavior and protect poor economies from crisis.

"With the adoption of the G20 Hamburg Action Plan and support for the Operational Guidelines for Sustainable Financing, G20 member countries are encouraged to pass stronger regulations on responsible lending and borrowing.

"The efforts on tackling corruption, tax evasion and avoidance continue to move forward at the G20. The developing world is losing at least a trillion dollars a year because of these issues. We need to solve this problem quickly because these revenues are vital to combating poverty and supporting economic growth."