Pittsburgh Catholic Publishes Eric LeCompte's Thoughts on Pope Francis Jubilee Meeting

Pittsburgh Catholic reported on Eric LeCompte's recent thoughts on Pope Francis' Jubilee Meeting with world leaders and economists. Read an excerpt below, and click here for the full story.

Vatican opens doors to leaders ready for economic reform

The leading “global decision-makers” all agree on the root causes of unsustainable inequality and are adamant about wanting to prevent yet another global financial crisis, said Eric LeCompte, executive director of Jubilee USA Network and an observer invited to the Vatican gathering.

He told Catholic News Service the problem comes in finding consensus on the solutions, “the ways forward for countries to get out of debt crisis and financial crisis and also for building an economy that’s more inclusive and where there is less of a distinction between the haves and the have-nots.”

 

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Eric LeCompte's IMF Analysis Featured in Seeking Alpha

Eric LeCompte's analysis of recent IMF Chief Kristalina Georgieva were featured in Seeking Alpha. Read an excerpt below, and click here for the full story.

The Glub, Glub, Glub Of Recession Circling The Drain

Eric LeCompte, the head of debt charity Jubilee USA, said: "The IMF delivered a stark message about the potential for another massive financial disaster that we last experienced during the Great Depression.

 

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Chicago Catholic Reports on Eric LeCompte's Jubilee Seminar with Pope Francis

Chicago Catholic reported on Eric LeCompte's thoughts on the recent Vatican high-level seminar where Pope Francis urged the creation of new global debt and tax policies that can reduce inequality. Read an excerpt below, and click here for the full story.

Vatican opens doors to leaders ready for finance reform

The leading “global decision-makers” all agree on the root causes of unsustainable inequality and are adamant about wanting to prevent yet another global financial crisis, said Eric LeCompte, executive director of Jubilee USA Network and an observer invited to the Vatican gathering.

He told Catholic News Service the problem comes in finding consensus on the solutions, “the ways forward for countries to get out of debt crisis and financial crisis and also for building an economy that’s more inclusive, and where there is less of a distinction between the haves and the have-nots.”

LeCompte said, “Pope Francis really led his country as they were battling a type of predatory finance known as vulture funds,” so while he is continuing the same social teaching as his papal predecessors, “we see the Holy See talking more about very technical economic policies like derivatives and taxation and illicit financial flows.”

“There’s a real sense from this Holy Father that if we really want to change the structures that govern our economy, we need to be able to address these technical issues head-on,” he said.

The pope, in fact, made a point to stop by the pontifical academy in the early afternoon. His lengthy and detailed written speech continued to hammer home basic and reasonable ethical principles: an end to money laundering, the arms industry and tax havens that drain billions from national economies; stopping repeated tax cuts for the wealthy; and relieving crushing, unsustainable debt burdens, to name a few.

LeCompte said many of the solutions put forward “are ones that Jubilee has advocated for over 20 years, and we’ve worked very closely with the Holy See on developing those positions, as well as with all other major religious institutions around the world.”

Just as the pope’s encyclical, “Laudato Si’,” sets a clear way to examine current structures and advocates for the values of global solidarity and environmental and economic justice, the Feb. 5 gathering was a continuation of that call for a more just world.

“We actually have a very clear path that needs to be taken,” LeCompte said, which begins with God’s creation of a rich and abundant world.

And, he said, the path leads toward that “jubilee promise that Pope John Paul II was the first to exclaim — that we all deserve to live in an economy where we all have enough.”

 

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U.S. Launch of the 2020 Financial Secrecy Index

WHATAs Congress considers measures to combat financial secrecy and end the formation of anonymous companies in the United States, the Tax Justice Network and the Financial Accountability and Corporate Transparency (FACT) Coalition ask you to join them on Capitol Hill for the U.S. launch of the 2020 Financial Secrecy Index (FSI).

Since 2009, the Tax Justice Network has produced the Financial Secrecy Index biennially, analyzing the level of secrecy in the world’s financial centers. It is the only comprehensive ranking that seeks to apply a methodical approach to defining secrecy jurisdictions. The previous iteration of the FSI, released in January 2018, rated the United States as the 2nd largest secrecy jurisdiction in the world, behind only Switzerland.

The 2020 FSI Launch Event will feature a presentation by TJN on the 2020 Financial Secrecy Index results, including where the U.S. falls in the new rankings and why. A panel of experts will then discuss the national security, law enforcement, human rights, and economic implications of financial secrecy in the United States as well as bipartisan legislation (such as the ILLICIT CASH Act and the Corporate Transparency Act) currently pending in Congress to tackle financial secrecy.

WHO: Jack Blum, Tax Justice Network; Annie Boyajian, Freedom House (TBC); David Luna, Chair, Anti-Illicit Trade Committee, U.S. Council for International Business (TBC); Tim Richardson, Fraternal Order of Police; Jodi Vittori, Transparency International Defense & Security; Eric LeCompte, Executive Director, Jubilee USA Network; Clark Gascoigne, The FACT Coalition - moderator 

WHEN: 9: 30 AM – 10:30 AM ET Wednesday, February 19

WHERE:  SD-106 Dirksen Senate Office Building
Washington, DC 20002

Jubilee USA Network is an alliance of more than 70 US organizations and 700 faith communities working with 50 Jubilee global partners. Jubilee builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

 

 

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Child Poverty in Puerto Rico: How Much It Costs and What Can We Do About It?

WHAT: Join us for a discussion about one of Puerto Rico's pressing challenges, how it affects its economic future and sustainability and what Congress can do. Hosted by the House Natural Resources Committee and featuring its Chairman Rep. Raul Grijalva (D-AZ) and Committee Member Rep. Jenniffer Gonzalez (R-PR) as opening speakers. 

WHO: Dr. Maria E Enchautegui, Director of Research and Policy, Youth Development Institute of Puerto Rico; Mr. Brayan Rosa, Public Policy Manager, Youth Development Institute of Puerto Rico; Mr. Eric LeCompte, Executive Director, Jubilee USA Network; Mr. Bruce Lesley, President, First Focus; Mrs. Natividad Flores, Community Leader; Moderator, Mrs. Amanda Rivera, Executive Director, Youth Development Institute of Puerto Rico. 

WHEN: 2: 00 PM ET Tuesday, February 11, 2020

WHERE: Longworth House Office Building
Capitol Hill, Washington DC

Jubilee USA Network is an alliance of more than 70 US organizations and 700 faith communities working with 50 Jubilee global partners. Jubilee builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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IMF and World Bank Heads Debate Growing Debt Problems

Washington, DC - The leaders of the World Bank and IMF discussed concerns of global debt levels at an event held today at the World Bank Preston Auditorium. 

"World Bank and IMF data asserts debt levels and vulnerabilities are at worrying levels," noted Eric LeCompte who leads the religious development coalition, Jubilee USA Network. "It seems impossible for developing countries to raise money for development and simultaneously wrestle with unsustainable debt levels."

The event, "Development and Debt in Lower-income Economies," featured IMF head Kristalina Georgieva and World Bank head David Malpass discussing the challenges with lowering debt loads while attempting to raise money to meet development needs. Recent reports from the World Bank and IMF highlight African countries that benefited from debt relief processes in the past that again face debt crises and high debt levels.

"We urgently need to implement solutions that can get us to sustainable debt levels and prevent the next financial crisis," said LeCompte who serves on United Nation finance expert groups. "We need to muster the political will to implement the international policies that we already rely on for creating stability in our domestic economies. We really need comprehensive debt restructuring and better responsible lending and borrowing policies in the international financial system."

Watch the High-level World Bank and IMF event here
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Eric LeCompte Speaks with National Catholic Reporter on Argentina and Pope Francis Jubilee Meeting

Eric LeCompte spoke with National Catholic Report on a recent Vatican high-level seminar where Pope Francis urged the creation of new global debt and tax policies that can reduce inequality. Read an excerpt below, and click here for the full story.

Pope Francis gets involved in Argentina's debt relief

Eric LeCompte, the leader of Jubilee USA, a network of religious and development groups that argue for international debt relief, praised Stiglitz's call.

"Bankruptcy is a big deal," LeCompte, one of those attending the Vatican conference, told NCR. "If we had it, Argentina would have experienced limited crises, if any, and vulture funds wouldn't have been able to swoop in."

"As speakers today note, a global bankruptcy process is vital to address inequality and support countries to exit debt crisis and financial crisis," he said.

LeCompte also praised the Vatican for hosting the event.

"The Holy See continues a history of leadership focusing on the structural issues that cause poverty and inequality with this seminar," he said. "It's why this event pulls together the highest level of global decision makers to work on the biggest economic challenges of our time — economic challenges that impact all of our lives almost as much as the oxygen we breathe."

 

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The Dialog and Catholic News Service does an in-depth interview with Eric LeCompte on Vatican Jubilee Meeting

Eric LeCompte spoke with the Dialog on a recent Vatican high-level seminar where Pope Francis urged the creation of new global debt and tax policies that can reduce inequality and end poverty. Read an excerpt below, and click here for the full story.

Game changers: Vatican opens doors to leaders ready for finance reform

The leading “global decision-makers” all agree on the root causes of unsustainable inequality and are adamant about wanting to prevent yet another global financial crisis, said Eric LeCompte, executive director of Jubilee USA Network and an observer invited to the Vatican gathering.

He told Catholic News Service the problem comes in finding consensus on the solutions, “the ways forward for countries to get out of debt crisis and financial crisis and also for building an economy that’s more inclusive and where there is less of a distinction between the haves and the have-nots.”

....

LeCompte said, “Pope Francis really led his country as they were battling a type of predatory finance known as vulture funds,” so while he is continuing the same social teaching as his papal predecessors, “we see the Holy See talking more about very technical economic policies like derivatives and taxation and illicit financial flows.”

“There’s a real sense from this Holy Father that if we really want to change the structures that govern our economy, we need to be able to address these technical issues head-on,” he said.

The pope, in fact, made a point to stop by the pontifical academy in the early afternoon. And his lengthy and detailed written speech continued to hammer home basic and reasonable ethical principles: an end to money laundering, the arms industry and tax havens that drain billions from national economies; stopping repeated tax cuts for the wealthy; and relieving crushing, unsustainable debt burdens, to name a few.

LeCompte said many of the solutions put forward “are ones that Jubilee has advocated for over 20 years, and we’ve worked very closely with the Holy See on developing those positions, as well as with all other major religious institutions around the world.”

Just as the pope’s encyclical, “Laudato Si’,” sets a clear way to examine current structures and advocates for the values of global solidarity and environmental and economic justice, the Feb. 5 gathering was a continuation of that call for a more just world.

“We actually have a very clear path that needs to be taken,” LeCompte said, which begins with God’s creation of a rich and abundant world.

And, he said, the path leads toward that “jubilee promise that Pope John Paul II was the first to exclaim — that we all deserve to live in an economy where we all have enough.”

 

Read more here

 

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Eric LeCompte Speaks with Catholic Philly on Holy See Jubilee Economics Seminar

Eric LeCompte spoke with Catholic Philly on a recent Vatican high-level seminar where Pope Francis urged the creation of new global debt and tax policies that can reduce inequality and end poverty. Read an excerpt below, and click here for the full story.

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