CNS, National Catholic Reporter, Crux and others feature Eric LeCompte's views on COVID, tax and debt relief decisions at the IMF and World Bank Spring Meetings. Read an excerpt below, and click here for the full story.
Advocates welcome global steps to help poor nations with pandemic recovery
By Dennis Sadowski, Catholic News Service
Recent decisions by leading financial institutions and the world's leading economies to ease the debt burden of the world's poorest nations will help those countries respond to the economic crisis caused by the coronavirus pandemic, the executive director of Jubilee USA said.
The decisions were reached during April meetings of the Group of 20 nations, or G-20, the World Bank Group and the International Monetary Fund.
"We've made some real progress," said Eric LeCompte, who heads the alliance of faith-based development and debt relief advocacy organizations and has long advocated for financial reforms affecting the world's 73 poorest nations and dozens of other middle-income countries.
"The steps will allow countries to respond to the pandemic and other needs," LeCompte told Catholic News Service April 15. "At the same time, with how serious the crisis is, we recognize we need to do a lot more and in some ways move quickly."
Atop Jubliee USA's priority list was the creation of $650 billion in emergency reserve funds, known as Special Drawing Rights, or SDRs. He described the size of the fund package as the "biggest ever mobilization of such reserves."
Read the full article here.