Eric LeCompte, the Executive Director of Jubilee USA Network, was recently spotlighted in Devex, expressing optimism on the U.S. progressing macroeconomic debt conversations. Read the excerpt below and follow the link to the full article.
Eric LeCompte Featured in Devex
Eric LeCompte, the Executive Director of Jubilee USA Network, was recently featured in Devex, highlighting the White House's motivation to mitigate debt burdens in the developing world. Read the excerpt below and follow the link to the full article.
IMF and World Bank Meetings Close as Projections Loom that Most Vulnerable will Suffer
Washington DC - 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.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
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Jubilee USA Statement on IMFC Meetings and the IMF Spring Meetings
Washington DC – On Friday, the International Monetary and Financial Committee (IMFC), the IMF policymaking body, met as part of the IMF and World Bank Meetings.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitors IMF, G20 and World Bank meetings, releases the following statement on the IMFC and IMF and World Bank meetings:
"Conversations focused on how the Middle East war negatively impacts debt, trade, poverty, financial stability, and food and fuel prices.
"The focus on determining what the IMF and World Bank could do to ease the economic blows, especially for the poorest countries, was important.
"More measures to support countries should have been agreed upon to expand financing, aid and debt relief.
"Improving sovereign debt resolution processes remains on the IMF’s agenda, as members welcomed changes to make debt restructurings more expedient and transparent.
"We expect the war to impact the way that the IMF looks at debt sustainability for many members.
"IMF members agreed on the need to raise funds for securing the low-cost lending window so the IMF can meet demand."
Read the IMFC Chair's full statement 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.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
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Jubilee USA Statement on G20 Finance Ministers Meeting During the IMF and World Bank Spring Meetings
Washington DC – On Thursday, G20 finance ministers met and did not release an official statement or communique.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitors G20 meetings, releases the following statement on the G20 finance ministers meeting during the IMF and World Bank Spring Meetings:
"It's clear the G20 finance ministers remain committed to the consensus agenda on debt developed last year.
"The shocks to fuel and food prices, the concerns of financial markets and debt dominated G20 conversations.
"In keeping with its G20 Presidency priorities, the US placed emphasis on debt transparency and restoring momentum to debt restructuring processes.
"The Global Sovereign Debt Roundtable, chaired by the US, offered more guidance on how to run debt restructurings.
"We are encouraged that the G20 sees the need for changes to make debt restructurings more timely, comprehensive, sufficient and transparent.
"The US wants to support poor countries to manage their debt."
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.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
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Eric LeCompte Spotlighted in Business Today
Eric LeCompte, the Executive Director of Jubilee USA Network, was recently featured in Business Today, providing further insight on the IMF’s concerns for global financial stability. Read the excerpt below and follow the link to the full article.
IMF Forecasts Grim Expectations for Global Economy
Washington DC – 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.
"The Iran war, trade tensions and unsustainable country debt are the reasons that we are hearing dire economic projections,” said Eric LeCompte, the Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitored IMF meetings since 2010. "The worst impacts of our economic situation will be felt by the poor and the vulnerable."
The World Food Programme recently estimated that the number of people suffering from a lack of food could go up by 45 million people – from its current historical high of 318 million – if the war continues until June.
“We will experience lower economic growth and higher food and fuel costs for the foreseeable future,” added LeCompte. "The IMF recommends that countries should stabilize their too high debts and invest in protecting the vulnerable and addressing the impacts of inflation for all of us."
Another flagship IMF report, the Global Financial Stability Report offered serious concerns for global markets.
"The report argues that the longer the Iran war continues, the greater chance that financial markets will suffer,” shared LeCompte. "Developing countries face higher financial market risks and will feel much more pain than developed countries."
In a letter to the G20 this week, the Financial Stability Board warned of vulnerabilities in financial markets that could bring a “double or triple whammy” threat to financial stability.
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.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
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Eric LeCompte Featured in US News & World Report
Eric LeCompte, the Executive Director of Jubilee USA Network, was recently spotlighted in US News & World Report, expressing concerns about the current war in Iran impacting the global economy. Read the excerpt below and follow the link to the full article.
Jubilee USA Statement on IMF Global Financial Stability Report
Washington DC – The IMF releases the Global Financial Stability Report and underscores growing global financial risks emerging from the ongoing Middle East war and high inflation.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitored IMF meetings since 2010, releases the following statement on the IMF Meetings and the Global Financial Stability Report:
"The IMF's concerns about global financial stability are alarming.
"War in the Middle East, greater inflation, high debts of countries and concerns about financial institutions can lead to greater challenges in the markets.
"The report argues that the longer the Iran war continues, the greater chance that financial markets will suffer.
"Developing countries face higher financial market risks and will suffer more than developed countries.
"More non-bank investments, such as crypto and private credit markets, are creating greater risks to the financial system.
"The IMF recommends that countries should stabilize their too high debts and invest in protecting the vulnerable and addressing the impacts of inflation for all of us."
Read the full 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.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
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Jubilee USA Statement on IMF World Economic Outlook Report
Washington DC – As world leaders arrive in Washington, DC for IMF and World Bank Spring Meetings, the IMF releases its flagship World Economic Outlook report dominated by risks to the global economy. In the best case, growth this year will slow down to no less than 3.1% but it could go down to 2% if war and conflict continues.
Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert who monitors IMF meetings since 2010, releases the following statement on the IMF Meetings and World Economic Outlook Report:
"Spurred by the Iran war, trade tensions and countries holding too much debt, the forecasts are extremely concerning for the global economy.
"We will experience lower economic growth and higher food and fuel costs for the foreseeable future.
"The IMF warns that high food prices and lower incomes, could spread social unrest and instability in many countries.
"The best scenario the IMF projects will be worse than the average of economic growth in the first two decades of this century.
"The most dire impacts of our economic situation will be felt by the poor and the vulnerable."
Read the full World Economic Outlook Report here.
Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.
Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org
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IMF Head Georgieva Says Upcoming IMF Meetings Focus on Easing Shocks of Middle East War
Sub-Saharan Africa and Small Island States Poised to Suffer Most From Economic Challenges
Washington DC – Next week's IMF Spring meetings focus on easing global economic shocks of the Middle East war, noted IMF leader, Kristalina Georgieva in her curtain raiser remarks for the upcoming meetings. Georgieva forecasts a global economic growth slowdown, even if a lasting peace is reached in the Middle East.
“World leaders coming to Washington are receiving a very dark picture of the global economy,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network and a United Nations finance expert. “The war is causing greater poverty and increases in our fuel and food costs."
Sub-Saharan African and small island countries are most vulnerable to the impacts, Georgieva added, announcing that their needs will take center stage at next week’s deliberations. The shock of war comes as countries are paying more in debt service than they were 20 years ago.
“The IMF is clear that current economic shocks hurt the poorest people the most,” added LeCompte.
The institution’s new flagship World Economic Outlook devotes a chapter to the economics of armed conflict.
“The IMF finds that in addition to the human toll, wars inflict higher economic costs on all countries, not just the countries in conflict,” commented LeCompte.
Read Kristalina Georgieva's curtain-raiser speech here.
Invites for Jubilee IMF/World Bank/G20 Events
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