Download the "Champerty Fix" Act bill as a pdf here.

Download the Jubilee USA Network memo of support for the "Champerty Fix" Act as a pdf here.

Bill:

Bill memo:

Download the "Champerty Fix" Act bill as a pdf here.

Download the Jubilee USA Network memo of support for the "Champerty Fix" Act as a pdf here.

World leaders close a week of talks on the global economy amidst grim economic forecasts about the Middle East war impacts on higher food and fuel prices, supply disruptions and less access to aid.

"Discussions focused on how the Middle East war negatively impacts debt, trade, poverty, financial stability and food and fuel prices,” said Eric LeCompte, the Executive Director of Jubilee USA Network. “The mood is somber as we leave the meetings as repetitive economic shocks impact the economy.”

The IMF expects about twenty countries may need new programs or expansions of their existing ones as a result of the war. The World Bank announced preparations to disburse up to an additional $100 billion in the next 15 months – over 40 per cent more than the bank did for pandemic response.

"We are concerned that countries with high debts are not getting enough relief to withstand another crisis,” noted LeCompte.

African countries spend 31% of their revenue servicing external debts. The Global Sovereign Debt Roundtable, a group of some creditors and debtors, chaired by the IMF, the World Bank and the G20 Presidency – this year held by the US – issued updates to its guidance on how to run debt restructurings. It also released a manual that assists countries to carry out financial operations that reduce their debt payments.

"Improving how countries resolve debt crisis remains an IMF priority, as members welcomed changes to make debt restructurings faster and more transparent,” commented LeCompte. “It's clear the G20 finance ministers remain committed to the consensus agenda on improving debt policies.”

Countries holding debt launched a Borrowers’ Platform that will serve as a forum for sharing experience and knowledge on debt management, transparency, debt crises prevention and response. The platform enacts a commitment from a United Nations global financing conference held in Seville, Spain, last year.

“As borrowers come together to address their crises, these efforts will also help stabilize the too high food and fuel prices in the global economy,” stated LeCompte.

Continuing to roll out its focus on jobs, the World Bank, alongside ten other development banks, launched an initiative to better keep track of how their projects create productive, better-paid and more secure jobs in recipient countries.

“Several world leaders expressed concern that the worsening economy would further cut jobs," shared LeCompte. “Africa is unprepared to welcome hundreds of millions of people joining their labor force in the coming decades.”

Policymakers welcomed World Bank work on its strategies for small states and for fragile and conflict-affected countries.  

Read Jubilee USA's statement on the IMFC meeting here.

Read Jubilee USA's statement on the G20 ministerial meeting here.

Read Jubilee USA's press release on the WEO and GFSR here.

Read Jubilee USA's statement on the IMF Global Financial Stability report here.

Read Jubilee USA's statement on the IMF World Economic Outlook report here.

Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.

Read more about Jubilee's Spring Meeting events here.

As world leaders gather to make decisions on the global economy, the IMF releases reports dominated by risks to the global economy stemming from the Middle East war, debt and trade tensions. One major IMF report, the World Economic Outlook report forecast economic growth will slow down to at least 3.1% in the best-case scenario, but it could go down to 2% if war and conflict continue.

Friend,

On behalf of Jubilee USA Network, we'd like to invite you to join us virtually or in-person if you've registered for these special upcoming events:

Towards Greater Coherence between Fiscal and Monetary Policy

April 14, 2026 | 4:30 - 6:00 pm ET

Moderator: Patricia Miranda
Global Advocacy Director, LATINDADD

Oscar Cabrera
Former President of the Central Reserve Bank of El Salvador and President of FUDECEN

Mark Weisbrot
Co-director, Center for Economic and Policy Research (CEPR)

Carolina Osorio Buitron
Senior Economist, IMF

This event proposes an exchange on the interaction between fiscal policy and monetary policy developing economies, considering the challenges they face in responding to various shocks. Drawing on recent experiences, the discussion will examine how different institutional arrangements influence policy effectiveness and their capacity to support macroeconomic stability, sustainable development and inclusive growth, and what has been the role of IBWs in this issue. The panel will also explore under what conditions greater alignment and communication between fiscal and monetary authorities can strengthen debt sustainability, improve access to local-currency financing, and enhance resilience to episodes of exchange rate volatility.

Sponsors: LATINDADD, Foundation for the Development of Central America (FUDECEN), Jubilee USA Network, European Network on Debt and Development (EURODAD), Center for Economic and Policy Research (CEPR), MENAFem, Mexican Crisis Observatory (OMEC)

Location: IMF HQ2-03B-768B

Registration to the World Bank/IMF Spring Meetings will be required to access the premises. This event will also be live-streamed here: https://www.worldbank.org/en/events/2026/01/12/civil-society-policy-forum-spring-meetings-2026#tabs-c10141ecc0-item-5c7ced662d-tab 

How Much Debt Relief is Enough? Reimagining LIC-DSF for Balancing Fiscal Space, Development and Climate

April 17, 2026 | 1:30 - 3:00 pm ET 

Moderator: Kjetil Abildsnes
Senior Policy and Advocacy Officer, Eurodad

Dr. Bertha Bangara Chikadza
Senior Lecturer, University of Malawi

Jane Nalunga
Executive Director, SEATINI

Didier Jacobs
Development Finance Lead, Oxfam International

Plamen Iossifov
Deputy Division Chief, IMF

The IMF and WB are about to complete their review of the Debt Sustainability Framework for Low-Income Countries (LIC-DSF). This is the model that de facto determines how much debt relief countries facing debt restructuring get. It is critical to get it right, both to prevent debt crises and to avoid that countries in debt distress end up overindebted, even after debt restructurings. This session will be an opportunity to debate possible improvements into the LIC DSF, focusing on how it can better reflect the debt vulnerabilities. Furthermore, participants will share how the framework should capture increasing climate change vulnerabilities.

Sponsors: EURODAD, Afrodad, MENAFem (Movement for Economic, Development, and Ecological Justice), Oxfam International, Wemos, Catholic Relief Services (CRS), ESCR-Net, Debt Justice Norway, Jubilee USA Network, SEATINI, Development Finance International, Bread for the World, Debt Justice UK, Recourse, Arab NGO Network for Development (ANND), ISER

Location: IMF HQ2-03B-768B

Registration to the World Bank/IMF Spring Meetings will be required to access the premises. This event will also be live-streamed here: https://www.worldbank.org/en/events/2026/01/12/civil-society-policy-forum-spring-meetings-2026#tabs-c10141ecc0-item-5c7ced662d-tab

Your organization, faith community or congregation can sign our Jubilee 2025 Petition here. 

Unsustainable and unjust public debts strip nations of the resources needed to invest in health, education, nature and climate action and the futures of their young people, locking entire generations into cycles of poverty and inequality. Currently, poor countries spend more than 40% of their budgets repaying debt.

The Jubilee tradition, rooted in several religions, including those of Judaism and Christianity, symbolizes renewal, liberation and restoration. It carries the promise of forgiving debts and freeing the oppressed, to provide families with the opportunity for a fresh start.

In his invitation letter to mark the 2025 Jubilee, Spes Non Confundit (“Hope does not disappoint”, Rom 5:5), Pope Francis reminds us that “hope should be granted to the billions of the poor who often lack the essentials of life” and that “the goods of the Earth are not destined for a privileged few but for everyone.”

This compels us to demand debt forgiveness for communities crushed by unpayable debts. As the Holy Father writes, “if we really wish to prepare a path to peace in our world, we must commit ourselves to remedying the remote causes of injustice, settling unjust and unpayable debts” (Spes Non Confundit, 16).

We appeal to global leaders meeting in the G20, G7, United Nations, the IMF and the World Bank to:

1

Stop the debt crisis now by cancelling and expanding relief of debts that are unpayable without endangering people and the Earth we all dwell upon, without burdensome conditions;

2

Prevent debt crises from happening again by addressing their root causes, promoting responsible lending and borrowing and budget transparency, and financial policies and agreements that protect the vulnerable and our planet

3

Establish a permanent, transparent, rules-based and comprehensive debt framework through global inclusive negotiations involving all stakeholders.