Kenyan Newspaper Nation Quotes Eric LeCompte on IMF Emergency Currency Reserves

Kenyan Newspaper Nation quoted Eric LeCompte in an article discussing Kenyan Presient Uhuru Kenyatta's address to the United Nations Conference on Trade and Development in Barbados. Read an excerpt below and the full article here.

Uhuru in Barbados: Kenya eyes new Caribbean flight routes, more trade

By Aggrey Mutambo

In Barbados for the second time in two years, the President has used the visit to also reiterate his call for supportive debt relief and vaccine access for poor countries, arguing they will be the two most important areas to help the world beat back the pandemic.

Last week, more than 250 civil society activists and organisations wrote an open letter to the IMF, asking that the allocation be increased to $3 trillion and that “economies are in less need of SDRs given their access to a wider array of monetary and financial tools for the response and recovery.”

“Wealthy countries received more than $400 billion of the relief aid while developing countries received around $235 billion,” said Eric LeCompte, executive director of Jubilee USA, one of the NGOs that appended their signature on the open letter.

“Wealthy countries can't use the special currency and should donate it to poor countries being ravaged by the pandemic.”


Read more here.