G20 Alert and 100s Faith, Labor, Dev, HR, Enviros Sign Letter

Friends,

217 - thats the number of the largest religious bodies in the United States and Africa joined by the biggest labor unions, human rights, environmental and anti-poverty groups who signed our Jubilee USA letter to the G20. 

Our G20 letter calls for debt cancellation for developing countries, more aid for countries, new processes to prevent financial crisis and measures that confront tax evasion and corruption.

Yesterday - ahead of this weekend's G20 Finance Minister Meeting, we delivered those Jubilee USA letters, signed by groups representing hundreds of millions of people, to the G20, IMF and White House.

Tonight we will be delivering petitions to the G20, ahead of their meeting, signed by thousands of individuals, religious leaders, economists and advocates. You have until 9:00 PM tonight to sign the petition before our delivery. Please add your name now.

Ahead of tomorrow's meetings, Jubilee USA Executive Director Eric LeCompte shares our views and coronavirus crisis campaign efforts in thousands of global news outlets, including Bloomberg, Yahoo Finance and Economia.

The letters we sent yesterday are the latest stage of our coronavirus crisis campaign efforts we launched in February. You can read more about those efforts in Eric's e-mail below.

Counting their membership in the millions, labor unions including the United Steelworkers (USW), American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) and American Federation of State, County and Municipal Employees (AFSCME) joined faith groups in the G20 letter. Other signers include human rights organizations like Amnesty International USA and Pax Christi and also environmental advocates ranging from Amazon Watch to Friends of the Earth. Development groups were represented on the Jubilee USA letter such as Islamic Relief, American Jewish World Service, American Friends Service Committee, Bread for the World, Action Aid, Oxfam, RESULTS and Health Gap.

Major religious institutions led the Jubilee USA G20 letter including: The All Africa Conference of Churches, National Council of Churches, Religious Action Center of Reform Judaism and the Episcopal, Evangelical Lutheran, Presbyterian, Methodist and United Church of Christ Churches. The Unitarian Universalist Association and the largest representations of Quaker communities and Buddhist consortiums are on the letter. The US Conference of Catholic Bishops sent a separate joint letter with Jubilee USA and Pope Francis continues to push for measures outlined in the statement to the G20. You can read the full list of letter signers here.

The majority of signers on the letter were churches, synagogues, dioceses and religious congregations representing small towns and urban centers.

To be counted in our G20 petitions signed by individuals, economists and religious leaders - you must sign tonight.

The United Nations estimates that 265 million more people are facing famine due to the coronavirus crisis. The International Labor Organization says 400 million jobs will be wiped out and the IMF asserts the current economic crisis rivals the Great Depression.

Jubilee USA began meeting with world leaders and generating tens of thousands of messages on the crisis in February. In March, the leadership of Jubilee USA outlined a coronavirus response plan for the IMF and G20.

In April, the IMF and G20 agreed to cancel 6 months of debt payments for the 25 poorest countries and create a plan for 73 countries to suspend debt payments for 2020.

This weekend the G20 considers increasing more debt relief for countries already benefiting and other developing countries who've been left out so far. The private sector has resisted participating and that's on the G20 agenda too. Finally they'll discuss accessing trillions of dollars in global reserve funds or the Special Drawing Rights. These are resources we need immediately.

Please join us and sign our petition before we send it to the G20 tonight.

Gratefully,

Zachary Conti
Director of Policy and Advocacy



---------- Forwarded message ----------
From: Eric LeCompte, Jubilee USA Network <coord@jubileeusa.org>
Date: Tue, Jul 14, 2020, 1:24 PM
Subject: G20 COVID: Aid, Debt, Transparency Decisions

 

Friends,

This week the G20 considers our Jubilee USA recommendations to protect all of us from financial crisis and deal with the global health and economic impacts of the coronavirus.

Since February we won a lot because you generated thousands of messages to the G20, IMF and the White House. This means that aid is being delivered to some of the world's poorest countries who have between zero and 50 critical care units to address the coronavirus. 

We won 6 months of debt cancellation for the 25 poorest countries and 73 countries can stop debt payments for 2020.

Because of your petitions and our advocacy meetings with the White House and Finance Ministers we know that this week's G20 meeting will focus on expanding debt relief beyond 2020, including more developing countries, compelling the private sector to be involved and accessing trillions of dollars in global reserve funds (Special Drawing Rights).

Please join me and sign our G20 petition asking they cancel debt so developing countries can bolster healthcare, deliver more resources so people can survive the crisis and put in place crucial financial crisis, transparency and market protections - so we can prevent the next crisis.

Your petitions will accompany a letter we organized with nearly 150 organizations including religious, anti-poverty, labor and Muslim, Christian and Jewish organizations and faith communities.

Signers include: The All Africa Conference of Churches, The Episcopal Church, The Evangelical Lutheran Church in America, The National Council of Churches, The Presbyterian Church, Religious Action Center of Reform Judaism, The Unitarian Universalist Association, The United Church of Christ and The United Methodist Church. Pope Francis declared he supports our efforts and the US Conference of Catholic Bishops sent a separate joint statement with Jubilee USA. The AFL-CIO and Oxfam joined our urgent letter. Our letter received press coverage in thousands of global news outlets like Fox News and the New York Times.

This week the International Trade Union Confederation and International Chamber of Congress pressed the G20 on our Jubilee USA proposals as well.

More than 100 world leaders and former heads of state endorsed our recommendations. Will you join the thousands who already signed our G20 petition?

Since February, our Jubilee USA team worked around the clock to move forward solutions to the coronavirus crisis - a crisis the IMF says rivals the Great Depression.

After our victories in April and May - Her Excellency Mona Juul, the United Nations Economic and Social Council President, asked that Jubilee USA present coronavirus crisis solutions at a special June United Nations session for world leaders. Our UN speech was covered in more then 10,000 newspapers and television shows from CNN to the Associated Press. These are the recommendations that the G20 considers this weekend.

Please join the thousands who already signed our coronavirus petition to the G20.

Thanks for your partnership,

Eric LeCompte
Executive Director

Twitter: @Eric_LeCompte
www.jubileeusa.org/support-us

 

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G20 Must Act, Say Hundreds of Religious, Labor, Human Rights, Environmental and Development Groups

Washington DC - Ahead of Saturday's G20 Finance Minister meetings, a wide range of 213 organizations is pressing for more action to confront the global health and economic impacts of the coronavirus. The largest religious bodies in the United States and Africa were joined by the biggest labor unions, human rights, environmental and anti-poverty groups in letters sent to the G20, IMF and White House.

In the letters, the groups call for debt cancellation for developing countries, more aid for countries, new processes to prevent financial crisis and measures that confront tax evasion and corruption.

"The coronavirus destroys lives and livelihoods and a growing coalition wants to see stronger action on the current crisis and new rules to stop future crises," noted Eric LeCompte the Executive Director of the religious organization that organized the G20 letter, Jubilee USA Network. "Many of the faith groups who signed the letter never signed a letter like this before. The impact of this crisis on vulnerable people propels communities to call for urgent action."

Counting their membership in the millions, labor unions including the United Steelworkers (USW), American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) and American Federation of State, County and Municipal Employees (AFSCME) joined the faith groups in the G20 letter. Other signers include Human Rights organizations like Amnesty International USA and Pax Christi and also environmental advocates ranging from Amazon Watch to Friends of the Earth. Development groups were represented on the Jubilee USA letter such as American Jewish World Service, American Friends Service Committee, Bread for the World, Action Aid, Oxfam, Islamic Relief USA, RESULTS and Health Gap.

Major religious institutions led the Jubilee USA G20 letter including: The All Africa Conference of Churches, National Council of Churches, Religious Action Center of Reform Judaism and the Episcopal, Evangelical Lutheran, Presbyterian, Methodist and United Church of Christ Churches. The Unitarian Universalist Association and the largest representations of Quaker communities and Buddhist consortiums are on the letter. The US Conference of Catholic Bishops sent a separate joint letter with Jubilee USA and Pope Francis continues to push for measures outlined in the statement to the G20.

The majority of signers on the letter were churches, synagogues, dioceses and religious congregations representing small towns and urban centers. 

"The G20 will make decisions this weekend that affect the survival of billions of vulnerable people confronting the pandemic," stated LeCompte who serves on United Nations finance expert groups. "We've seen progress in getting aid to many people that need it, but we need to mobilize a lot more resources for people to confront the crisis."

The United Nations estimates that 265 million more people are facing famine due to the coronavirus crisis. The International Labor Organization says 400 million jobs will be wiped out and the IMF asserts the current economic crisis rivals the Great Depression.

Jubilee USA began meeting with world leaders and generating tens of thousands of messages on the crisis in February. In March, the leadership of Jubilee USA outlined a coronavirus response plan for the IMF and G20.

In April, the IMF and G20 agreed to cancel 6 months of debt payments for the 25 poorest countries and create a plan for 73 countries to suspend debt payments for 2020.

"This weekend the G20 considers increasing more debt relief for countries already benefiting and other developing countries who've been left out so far," stated LeCompte. "The private sector has resisted participating and that's on the G20 agenda too. Finally they'll discuss accessing trillions of dollars in global reserve funds or the Special Drawing Rights. These are resources we need immediately."

Read the Jubilee USA letter to the G20, IMF and White House signed by 213 groups.

Read Jubilee USA's March coronavirus response plan letter.

Read Jubilee USA Director Eric LeCompte's June 2nd address to the special session of the United Nations on coronavirus crisis solutions here.

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G20 COVID: Aid, Debt, Transparency Decisions

Friends,

This week the G20 considers our Jubilee USA recommendations to protect all of us from financial crisis and deal with the global health and economic impacts of the coronavirus.

Since February we won a lot because you generated thousands of messages to the G20, IMF and the White House. This means that aid is being delivered to some of the world's poorest countries who have between zero and 50 critical care units to address the coronavirus.

We won 6 months of debt cancellation for the 25 poorest countries and 73 countries can stop debt payments for 2020.

Because of your petitions and our advocacy meetings with the White House and Finance Ministers we know that this week's G20 meeting will focus on expanding debt relief beyond 2020, including more developing countries, compelling the private sector to be involved and accessing trillions of dollars in global reserve funds (Special Drawing Rights).

Please join me and sign our G20 petition asking they cancel debt so developing countries can bolster healthcare, deliver more resources so people can survive the crisis and put in place crucial financial crisis, transparency and market protections - so we can prevent the next crisis.

Your petitions will accompany a letter we organized with nearly 150 organizations including religious, anti-poverty, labor and Muslim, Christian and Jewish organizations and faith communities.

Signers include: The All Africa Conference of Churches, The Episcopal Church, The Evangelical Lutheran Church in America, The National Council of Churches, The Presbyterian Church, Religious Action Center of Reform Judaism, The Unitarian Universalist Association, The United Church of Christ and The United Methodist Church. Pope Francis declared he supports our efforts and the US Conference of Catholic Bishops sent a separate joint statement with Jubilee USA. The AFL-CIO and Oxfam joined our urgent letter. Our letter received press coverage in thousands of global news outlets like Fox News and the New York Times.

This week the International Trade Union Confederation and International Chamber of Congress pressed the G20 on our Jubilee USA proposals as well.

More than 100 world leaders and former heads of state endorsed our recommendations. Will you join the thousands who already signed our G20 petition?

Since February, our Jubilee USA team worked around the clock to move forward solutions to the coronavirus crisis - a crisis the IMF says rivals the Great Depression.
 

After our victories in April and May - Her Excellency Mona Juul, the United Nations Economic and Social Council President, asked that Jubilee USA present coronavirus crisis solutions at a special June United Nations session for world leaders. Our UN speech was covered in more then 10,000 newspapers and television shows from CNN to the Associated Press. These are the recommendations that the G20 considers this weekend.

Please join the thousands who already signed our coronavirus petition to the G20.

Thanks for your partnership,

Eric LeCompte
Executive Director

Twitter: @Eric_LeCompte
www.jubileeusa.org/support-us

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World Leaders Meet to Tackle COVID Debt and Development Crises

Washington DC - The G20 and Paris Forum convened a global virtual High-Level Ministerial conference for 39 countries focused on the economic, debt and development impacts of the coronavirus. 

"The meeting offered recommendations to the G20 as it tries to build consensus on next steps for dealing with the coronavirus economic impacts," noted Eric LeCompte, a United Nations finance expert and the Executive Director of the religious development group Jubilee USA. "G20 Finance Ministers meet next week and will move forward decisions on debt relief and development aid for developing countries."

In April, the G20 moved forward a plan to suspend debt payments for 73 of the world's poorest countries. 41 of the 73 countries are accepting the relief.

"Next week's G20 meeting will focus on extending the debt payment suspension into 2021," said LeCompte. "While suspending the debt payments will generate billion of dollars for poor countries to deal with the coronavirus, the G20 plan still faces challenges. Not all G20 countries are fully participating and the private sector and commercial banks won't commit to join in debt relief measures. We also have the whole category of developing Middle Income Countries who are left out of debt relief plans."

The July 8th, High-Level Ministerial Conference, "Tackling the COVID-19 Crisis, Restoring Sustainable Capital Flows and Robust Financing for Development," included speeches from the heads of the IMF and World Bank. The World Bank's David Malpass called on China's Development Bank to join the debt suspension and he noted that some countries will need debts permanently reduced. Kristalina Georgieva, the head of the IMF, urged world leaders to start to look more closely at the challenges that Middle Income Countries like tourism dependent small island states face.

"The coronavirus crisis is destroying livelihoods and economies," noted LeCompte. "Expanding and increasing debt relief so people can survive the economic and health impacts of the crisis is essential for the developing world."

Read the conference agenda as a PDF here.

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Bond Buyer Quotes Eric LeCompte on Child Poverty in Puerto Rico

Bond Buyer features Eric LeCompte in their article on Puerto Rico's economy. Read more here.

Puerto Rico experts, participants discuss its future

By: Robert Slavin

Jubilee USA Network Executive Director Eric LeCompte also focused on the island’s children, saying that budgets must reduce the high child poverty rate on the island.

Many said the future was unclear.

Read more here.

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Jubilee USA Anti-Money Laundering Act of 2020 Letter

The Honorable Mitch McConnell 
Majority Leader, U.S. Senate
317 Russell Senate Office Building
Washington, DC 20510
 
The Honorable Chuck Schumer 
Minority Leader, U.S. Senate
322 Russell Senate Office Building
Washington, DC 20510
 
The Honorable James Inhofe
Chairman, U.S. Senate Armed Services Committee
205 Russell Senate Office Building
Washington, DC 20510

The Honorable Jack Reed
Ranking Member, U.S. Senate Armed Services Committee
728 Hart Senate Office Building
Washington, DC 20510

June 29, 2020

Leader McConnell, Leader Schumer, Chair Inhofe and Ranking Member Reed,

On behalf of 750 national religious bodies and institutions, faith communities and Jubilee USA member organizations, I urge you ensure that the Anti-Money Laundering Act of 2020 becomes an amendment to the National Defense Authorization Act (S Amendment 2198 to S4049).

The Senate should ensure quick passage of this and similar pieces of legislation that reveal the true owner of "anonymous" shell companies to government authorities. Some shell companies hide those who profit from human trafficking and dictators use them to steal development aid and debt relief. Without basic transparency measures, shell companies can foster Medicare and Medicaid fraud, harm our national security and contribute to a loss of nearly a trillion dollars a year to the developing world. 

My organization, Jubilee USA Network, coordinated 100 faith communities and organizations to urge Congress to pass strong transparency measures that reveal the true ownership of these anonymous companies. In the attached anti-money laundering support letter, please see a listing of these groups that include some of the largest religious institutions and groups in the United States, including: Christian Church (Disciples of Christ), The Episcopal Church, The Evangelical Lutheran Church in America, The National Council of Churches, The Presbyterian Church (USA), The United Church of Christ, The United Methodist Church - General Board of Church and Society, Catholic religious orders and Jewish, Christian and Muslim communities.

As you know, this amendment is sponsored by Senators Mike Crapo (R-ID), Sherrod Brown (D-OH), Tom Cotton (R-AR), Mark Warner (D-VA), Mike Rounds (R-SD), Doug Jones (D-AL), Jerry Moran (R-KS), Bob Menendez (D-NJ) and John Kennedy (R-LA).

While we believe the adoption of this measure is a positive step forward to protect the vulnerable and improve transparency, we look forward to continuing to work with you to further strengthen this and related transparency initiatives.

I am grateful for your public service. Please know that I and our member institutions continue to hold you in prayer as you make critical decisions for our country and on behalf of those who are most vulnerable.

Gratefully,

Eric LeCompte
Executive Director
Jubilee USA Network

CC: US Senate Members
Enc: Attached Letter


June 29, 2020

Dear Senator,

“When the righteous increase, the people rejoice, but when the wicked rule, the people groan.” --- Proverbs 29:2

As communities of faith, we are grateful for your public service and we pray for your efforts daily. We are grateful for the efforts you've supported of Jubilee USA Network to build a more accountable and transparent economic system.

We write to urge you to support legislative actions in line with our faith - Jubilee legislation that promotes transparency, fights corruption and protects the vulnerable.

In particular, we invite you to cosponsor the Corporate Transparency Act and the ILLICIT Cash Act, which reveal the true owners of anonymous shell corporations to law enforcement.

This legislation is essential as it:

  • stops ways that human traffickers hide and make profits
  • prevents the exploitation of vulnerable communities in the United States through Medicaid and Medicare fraud
  • curbs the theft of development and debt relief aid
  • reveals theft from corrupt foreign governments of public monies
  • can help raise revenue in the developing world

We are thankful for your support of these vital pieces of Jubilee legislation that protect and lift the vulnerable.


Signatories below as of 6/29/20

Denominations and Denominational Representations
Christian Church (Disciples of Christ)
The Episcopal Church
The Evangelical Lutheran Church in America
The National Council of Churches
The Presbyterian Church (USA)
The United Church of Christ
The United Methodist Church, General Board of Church and Society

Religious Institutions, Faith Organizations and Denomination Offices
Africa Faith and Justice Network
Africa Women and Youth Initiative
United Methodist Women
Daughters of Charity USA
Franciscan Action Network
Columban Center for Advocacy and Outreach
American Friends Service Committee
Church of the Brethren Office of Peacebuilding and Policy
Disciples Center for Public Witness
Disciples Home Missions of the Christian Church (Disciples of Christ)
Jubilee USA Network
Leadership Conference of Women Religious
Pax Christi USA
Sojourners
United Church of Christ, Justice and Witness Ministries

Congregations, Faith Communities and Religious Groups
All Saints Episcopal Church -- Salt Lake City, UT
Ascension Lutheran Church -- Thousand Oaks, CA
Athens Catholic Community Peace and Justice Committee -- Athens, OH
Bernardine Franciscan Sisters -- Reading, PA
Bethel Lutheran Church -- Los Angeles, CA
B'nai Harim -- Pocono Pines, PA
California Lutheran University
Central Pacific Conference United Church of Christ -- OR
Congregation Gates of Heaven -- Schenectady, NY
Crossroads United Church of Christ -- Indianola, IA
Dominicans of Sinsinawa -- Sinsinawa, WI
First Congregational Church of Alameda, CA
First Congregational Church of Chicago UCC
First Presbyterian Church -- Portland, OR
Grey Nuns of the Sacred Heart -- Philadelphia, PA
Harbor House -- Thousand Oaks, CA
Holy Spirit Missionary Sisters, USA JPIC -- Waukegan, IL
IHM Sisters - Justice, Peace and Sustainability Office -- Monroe, MI
Immanuel Lutheran Church of Los Altos, California -- Los Altos, CA
Interfaith Worker Justice, New Mexico
InterReligious Task Force On Central America and Colombia -- Cleveland, OH
Iowa City Pax Christi -- IA
Jubilee Albany Capitol Region, NY
Jubilee Massachusetts
Jubilee Northwest -- Seattle, WA
Jubilee San Diego
Jubilee Southern California
Jubilee Ventura County -- CA
Jubilee Vermont
Lutheran Office of Public Policy -- California
Mary House Inc -- New Providence, NJ
Messiah Lutheran Church -- Schenectady, NY
Middlebury Friends Meeting -- Middlebury, VT
Mission Committee of the First Trinitarian Congregational Church (United Church of Christ) -- Concord, MA
Missionary Oblates of Mary Immaculate
Mount Tabor Lutheran Church -- Salt Lake City, UT
Muslims for Economic Justice
Nicaragua Center for Community Action -- Berkley, CA
Pax Christi Dallas -- TX
Pax Christi Florida
Pax Christi Hazel Crest -- IL
Pax Christi Hilton Head -- SC
Pax Christi Illinois
Pax Christi Metro New York
Pax Christi San Antonio -- TX
Franciscan Sisters of the Atonement -- Garrison, NY
Global Justice Institute, Metropolitan Community Churches -- New York, NY
St. John's Episcopal Church -- Chicago, IL
Prince of Peace Lutheran Church -- Philadelphia, PA
Congregation of the Sisters, Servants of IHM -- Scranton, PA
St. Pius X Catholic Church -- Portland, OR
La Vista Ecological Learning Center -- Godfrey, IL
Pax Christi Pacific Northwest -- Seattle, WA
Pax Christi Seed Planters -- Crete, IL
Pax Christi St. Maurice/Broward Florida
Pax Christi Western NY
Peace Lutheran Church -- Danville, CA
Pilgrim United Church Of Christ -- Carlsbad, CA
Provincial Council Clerics of St. Viator -- Las Vegas, NV
Roswell Presbyterian Church -- Roswell, GA
Saint Mark's Episcopal Cathedral -- Seattle, WA
San Dieguito United Methodist Church -- Encinitas, CA
Sinsinawa Dominican Peace and Justice Office -- WI
Sisters of Charity of Leavenworth JPIC Office, KS
Sisters of Charity of New York
Sisters of St. Francis of Philadelphia -- Aston, PA
Society of the Holy Child Jesus -- Philadelphia, PA
Sisters of Mercy of the Americas - Institute Justice Team -- Silver Spring, MD
Glenmary Home Missioners -- Cincinnati, OH
Sisters of Providence Office of Peace, Justice, and Sustainability -- St Mary-of-the-Woods, IN
South Coast Interfaith Council -- Long Beach, CA
South East Area Mission and Justice Committee of the Massachusetts Conference of the United Church of Christ -- Framingham, MA
St. Alban's Episcopal Church -- Albany, CA
St. Mary's Episcopal Church -- New York, NY
Temple Beth El of South Orange County -- Aliso Viejo, CA
The River Church South -- Quincy, MA
University Christian Church (Disciples of Christ)/United Church of Christ -- San Diego, CA
Ursuline Sisters of Cleveland -- Cleveland, OH

 

You can download a PDF version of the letter here

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Bond Buyer Features Eric LeCompte on Puerto Rico and PROMESA

Bond Buyer quoted Eric LeCompte on his thoughts on PROMESA and Puerto Rico. Read more here.

PROMESA after four years: Key questions remain

By: Robert Slavin 

For others the measure of failure is quite simple.

Attorney John Mudd said after four years there should have been an approved plan of adjustment for the central government debt. Jubilee Executive Director Eric LeCompte said all of the debt restructuring should have been completed by now. Mudd is an attorney for unsecured creditor Servicios Integrales en la Montaña in the bankruptcy as well as a long-time commentator on the board and the bankruptcy.

Advantage Business Consulting President Vicente Feliciano said PROMESA prevented debt restructuring from going into a tailspin.

Read more here.

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The Business Times, Taipei Times and Reuters cite Eric LeCompte on G20/World Bank Debt Plans

The Business Times, Taipei Times and Reuters quote Eric LeCompte on the upcoming G20 and World Bank debt plans. Read more here

UPDATE 2-World Bank chief calls for more private sector buy-in on G20 debt relief

By: Andrea Shalal

Eric LeCompte, executive director of Jubilee USA Network, said having the data in one place would make it easier to deal with an impending wave of debt restructurings.

“It’s no longer a question of if, now it’s just a matter of when,” he said.

The G20’s International Financial Architecture Working Group is due to meet virtually on Tuesday to discuss the initiative and private sector participation, LeCompte said. (Reporting by Andrea Shalal; Editing by Sandra Maler, Kim Coghill and Sonya Hepinstall)

Read more here.

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SDR Global Webinar

 English-Spanish translation (by Zoom streaming)

Spanish version

Curing the Coronavirus Health & Economic Crisis in Developing Countries & Emerging Resilient as a Global Community;

Injecting Special Drawing Rights & Zero Debt Solutions

Global Webinar

June 25th 

19:30 New Delhi • 16:00 Harare • 15:00 London • 10:00AM Washington DC  

11:00AM Buenos Aires • 9:00AM Quito • 16:00 Brussels • 14:00 Accra • 23:00 Tokyo

 

Developing countries faced debt and financial crisis prior to COVID-19. Inequality exacerbates the economic crisis spurred by the coronavirus in developed and developing countries. Too many countries, due to austerity policies, wrestled with weakened health systems and soaring unemployment before the coronavirus hit. Over 110 countries seek emergency support. The suspension of debt payments for a few countries is not enough to get through the crises, let alone being able to achieve the Sustainable Development Goals to end poverty and address inequality. Development aid, boosting tax revenues, curbing tax evasion and corruption are necessary, but cannot deliver enough resources or the urgent resources needed.

 

The United Nations Secretary General and UN agencies, African Finance Ministers, the International Monetary Fund, many countries and civil society organizations, call for a new and large issuance of IMF Special Drawing Rights (SDRs) to offer efficient, unconditional and rapid means of providing liquidity to all developing countries.

 

Accessing these critical global reserve funds requires the IMF Executive Directors and the G20 to make an urgent decision that impacts every person in the world.

 

Panelists

The Honorable Minister for Finance of Ghana, Ken Ofori-Atta (TBC)

Andres Arauz, former Director of the Central Bank of Ecuador

Patricia Miranda, Global Advocacy Director, Latindadd

Jean Saldanha, Executive Director, Eurodad

Matthew Martin, Advisor of OIF Finance Ministers and Director of Development Finance International

Eric LeCompte, Executive Director, Jubilee USA Network (Moderator)

 

During this webinar, we will address:

  • What are SDRs, how are they issued, and how do they work?
  • Why were they issued in previous global financial crises, like 2008?
  • How do SDRs benefit low and middle income countries to fight the current health, economic and social crisis?
  • What is the amount of financial reserves that is needed?
  • What is the process of distributing SDRs from developed to developing countries?
  • What, if any, power do these actions give the IMF over countries?

 

Register here: https://zoom.us/webinar/register/8315924362490/WN_Coyl6vuPREeAIFHNzYKdoA

For more information, contact coord@jubileeusa.org.

 

   

 

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Catholic Profiles Interviews Eric LeCompte on Addressing Poverty

Catholic Profiles interviewed Eric LeCompte on the mission of Jubilee USA Network. Read more here

An Interview with Eric LeCompte

By: Gordon Nary

Gordon: When were you appointed as Executive Director of Jubilee USA Network, and what have been some of the most rewarding experiences that you have had to date?

Eric: I took over the reigns of Jubilee USA in April 2010. Working at Jubilee USA is a fulfillment of my Catholic vocation. The most rewarding experience of my career is working with, supporting and advising Catholic and other Christian, Jewish and Muslim leaders. Working with the Bishops and Catholic religious orders of the United States, Caribbean, Puerto Rico, Africa, and Latin America as well as major interfaith leaders in all of these regions can only be described as a gift.

Together this interfaith work has had unprecedented results. We’ve moved forward major policies to address the structural causes of poverty - debt, tax, and trade issues. In Africa, our efforts brought aid and debt relief monies to confront the Ebola epidemic that hit Sierra Leone, Liberia and Guinea. We created a new process at the International Monetary Fund that strengthened healthcare and built new hospitals across the region.

Read more here.

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Eric's UN COVID Address, Global News Coverage

Friends,

Jubilee USA's Eric LeCompte addressed a special session of the United Nations on coronavirus recovery on Tuesday. Eric articulated the global policies that need to move forward to lift the vulnerable, ensure the developing world can access healthcare and for all of us to be protected from financial crisis that rivals the Great Depression.

In his UN speech, Eric raises the need for emergency United Nations Security Council action, tackling inequality and corruption and changing laws to protect Puerto Rico, Ecuador, Ghana and all countries from debt crisis.

The speech promoted news ideas that are gaining momentum to confront the health and economic impacts of the coronavirus. The address received in-depth and featured coverage the you read in Associated PressFox News and the Washington Post.

Our Jubilee USA UN remarks highlight that we can emerge from this crisis with hope, more resilience and more inclusive global society.

Please read and share our Jubilee United Nations coronavirus address.

Thanks to your support and partnership, our coronavirus campaigns are moving forward with the United Nations, G7, G20 and White House. 

Thousands of you signed our petitions. More than 130 groups from the largest Christian and Jewish groups to the AFL-CIO signed our statement on debt, transparency and crisis response policies to world leaders. Recently, Eric spoke to National Public Radio's Marketplace about how the crisis could drive 60 million more people into extreme poverty and that we must take action.

In the coming days and weeks, we'll depend on you to act with us as we move the G20 in July.

Gratefully,

Zach Conti
Director of Policy and Advocacy
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Fox News, Houston Chronicle, San Francisco Chronicle and Associated Press Feature Eric LeCompte United Nation COVID Speech

Fox News, Houston Chronicle, San Francisco Chronicle and Associated Press feature Eric LeCompte on his United Nations COVID-19 Speech. Read more here.

UN urges help for countries near 'debt distress' from virus

By: Edith M. Lederer

Eric LeCompte, executive director of Jubilee USA Network, an alliance of more than 75 U.S. organizations and 700 faith communities working for debt relief, was sharply critical of the resistance of private creditors, commercial lenders and banks to participate in debt relief calls — despite calls by the G-20, International Monetary Fund, World Bank and United States.

“Because of the enormity of this crisis and the long-term challenges the markets could face, the fact that some private and commercial creditor blocks are not participating ... baffles the mind,” he told the virtual meeting.

LeCompte said the U.N. Security Council must act “given that this crisis could devastate all of us, poor countries and the markets.”

Read more here

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