Eric LeCompte, Executive Director of Jubilee USA, recently spoke with the New Telegraph on the debt situation in Nigeria. Read excerpt below and follow link to full article.

IMF to Nigeria: High oil prices shouldn’t delay reforms

Oil producing countries, including Nigeria, should not be tempted to delay reforms in their countries because of the present high oil prices, the International Monetary Fund (IMF) has advised. This counsel came hours after Eric LeCompete, who serves on United Nations experts groups that focus on economic issues, raised the alarm over Nigeria’s and other developing nations’ unsustainable debts, saying it “is a recipe for financial crisis.”

In a related development, Jubilee USA Executive Director, Eric LeCompte, also cautioned Nigeria and other developing economies on the unsustainability of their debts. “We are seeing a growing debt crisis in many developing economies,” stated LeCompete.

“At the same time, we see risky and speculative behaviour on the rise. We know that risky behaviour and unsustainable debt is a recipe for financial crisis.” It would be recalled that since last April, the IMF warned that not enough has been done to prevent future financial crisis.

Read more here.

Eric LeCompte, Executive Director of Jubilee USA, recently spoke with Daily Trust on the debt crisis in Africa. Read excerpt below and follow link to full article.

Nigeria, other African countries to discuss debt relieve, disaster aid

Eric LeCompte, a financial expert and executive director of Jubilee USA said: “We are seeing growing debt crises in many developing economies, at the same time, we see risky and speculative behaviour on the raise.

“We know that risky behaviour and unsustainable debt is a recipe for financial crises.”

Read more here.

Eric LeCompte, Executive Director of Jubilee USA, recently spoke with Sahara Reporters on the economy of Nigeria. Read excerpt below and follow link to full article.

IMF: Nigeria To Witness Sluggish Economic Growth In 2019

Eric LeCompte, a financial expert and executive director of Jubilee USA said: “We are seeing growing debt crises in many developing economies, at the same time, we see risky and speculative behaviour on the raise.

“We know that risky behaviour and unsustainable debt is a recipe for financial crises.”

Read more here.

Bali, Indonesia -The International Monetary Fund releases its "Global Financial Stability Report" ahead of its Annual Meetings held this year in Southeast Asia. The report finds that short-term risks to financial stability rose in the last 6 months. 

"The IMF is saying our economy is stable now, but there are some serious risks to stability on the horizon," noted Eric LeCompte who tracks IMF reports as the Executive Director of the religious development coalition Jubilee USA. "The IMF is also saying that inequality is on the rise and the global economic recovery is still not shared by everyone."

This is the second major IMF report this week which raises concerns of pending financial crisis. On Tuesday, the IMF released its World Economic Outlook report.

LeCompte's organization, Jubilee USA, organized a high-level event for October 12th during the Annual Meetings which focuses on financial crisis prevention and economic aid when countries experience economic shocks or natural disasters. Speakers include Finance Ministers and senior staff from the IMF, G-24 and the Vatican.

Read the 2018 IMF Global Financial Stability Report

Read the 2018 IMF World Economic Outlook Report

Read about Jubilee USA's high-level event, Withstanding the Next Storm: Resilient Economies Require Resilient Tools to Weather Financial Crisis and Natural Disaster

Eric LeCompte, Executive Director of Jubilee USA, recently spoke with America, the Jesuit Review, on the recent earthquakes in Haiti. Read excerpt below and follow link to full article.

5.9 Earthquake Rocks Northern Haiti

“The situation in Haiti is tragic,” Eric LeCompte, executive director of Jubilee USA Network, told America. “It’s the poorest country in the hemisphere and one of the poorest in the world.”

Mr. LeCompte, a finance expert, said Haiti’s ongoing struggles stem from a weak infrastructure that is vulnerable to natural disasters, like earthquakes and hurricanes. While Jubilee USA facilitated the forgiveness of Haiti’s debt after the 2010 earthquake, the country again finds itself in a financial hole. Its national debt tops $2.6 billion.

“The situation in Haiti, coupled with natural disasters, leaves the people with a sense of hopelessness,” Mr. LeCompte said. “That’s where it’s incumbent on the international community to step in. For Christians, it’s a moral issue.”

But while it seems insurmountable, Mr. LeCompte believes the international community can invest in the nation’s infrastructure, which will be less expensive to build in Haiti. The ongoing problems with corruption, however, will require greater accountability and transparency, he said.

Read more here. 

Eric LeCompte, Executive Director of Jubilee USA, was recently quoted in Leadership speaking on the International Monetary Fund's projections for Nigeria and the world economy. Read excerpt below and follow link to full article.

Poor Growth In Nigeria, South Africa Affecting African Economy – IMF

“We are concerned about the downturn in economic growth,” noted Jubilee USA Executive Director Eric LeCompte. As a finance expert, LeCompte has tracked IMF meetings for nearly 10 years and is attending the meetings in Bali. “The report reminds us that inequality remains a serious problem and we still are not safe from financial crisis.”

Since April, the IMF warned that not enough has been done to prevent future financial crisis. LeCompte’s organization, Jubilee USA organized a major event about preventing financial crisis during the Annual Meetings scheduled for October 12th in Bali. An African Finance Minister and senior staff from the IMF, the Vatican and the G-24 will discuss debt relief, disaster aid and crisis prevention.

“We are seeing a growing debt crisis in many developing economies,” stated LeCompte who serves on United Nation expert groups that focus on economic issues. “At the same time, we see risky and speculative behavior on the rise. We know that risky behavior and unsustainable debt is a recipe for financial crisis.” 

Read more here. 

Eric LeCompte, Executive Director of Jubilee USA, was recently quoted in The Nation speaking on the International Monetary Fund's projections for Nigeria and the world economy. Read excerpt below and follow link to full article.

Nigeria’s growth not enough to create jobs, says IMF

“We are concerned about the downturn in economic growth,” noted Jubilee USA Executive Director Eric LeCompte. As a finance expert, LeCompte has tracked IMF meetings for nearly 10 years and is attending the meetings in Bali. “The report reminds us that inequality remains a serious problem and we still are not safe from financial crisis” he warned.

“We are seeing a growing debt crisis in many developing economies,” stated LeCompte who also serves on United Nation expert groups that focuses on economic issues. “At the same time, we see risky and speculative behavior on the rise. We know that risky behavior and unsustainable debt is a recipe for financial crisis.”

Read more here. 

Eric LeCompte, Executive Director of Jubilee USA, recently spoke with Nearshore Americas about Argentina. Read excerpt below and follow link to full article.

IMF Agrees to Increase Argentina’s Bailout Fund

“Argentina has had a difficult history with the IMF, austerity and predatory vulture hedge funds. We don’t want history to repeat itself,” stated Eric LeCompte, Executive Director of the religious development group Jubilee USA, in a press release.

Read more here.

Bali, Indonesia - The International Monetary Fund released the World Economic Outlook Report and lowered global growth projections to 3.7 percent for 2018 and 2019. The estimates falls .2 percent since the last IMF economic report released in April. The IMF issues the report ahead of the Annual IMF and World Bank meetings where world leaders, finance ministers and nongovernmental organizations gather this week in Bali, Indonesia.

"We are concerned about the downturn in economic growth," noted Jubilee USA Executive Director Eric LeCompte. As a finance expert, LeCompte has tracked IMF meetings for nearly 10 years and is attending the meetings in Bali. "The report reminds us that inequality remains a serious problem and we still are not safe from financial crisis."

Since April, the IMF warned that not enough has been done to prevent future financial crisis. LeCompte's organization, Jubilee USA organized a major event about preventing financial crisis during the Annual Meetings scheduled for October 12th in Bali. An African Finance Minister and senior staff from the IMF, the Vatican and the G-24 will discuss debt relief, disaster aid and crisis prevention.

“We are seeing a growing debt crisis in many developing economies," stated LeCompte who serves on United Nation expert groups that focus on economic issues. "At the same time, we see risky and speculative behavior on the rise. We know that risky behavior and unsustainable debt is a recipe for financial crisis."

Read the October 2018 World Economic Outlook Report

Read more about Jubilee USA's Panel at IMF Meetings

October 12, 2018
2:00-3:00 pm
Annual IMF/World Bank Meetings
Room Surabaya - Bali International Conference Center (BICC)
Bali, Indonesia

Moderator: 

Eric LeCompte, Executive Director, Jubilee USA Network 

Panelists: 

Honorable Minister Jean-Marie Ogandaga, Minister of Economy, Gabon
Aldo Caliari, Senior Advisor, G-24 International Monetary Affairs and Development
Augusto Zampini Davies, Director of Development and Faith, Dicastery for the Promotion of Integral Human Development, Holy See (Vatican)
Patricia Miranda, Coordinator of Finance for Development, Latindadd
Sean Nolan, Deputy Director in the Strategy, Policy and Review Department, International Monetary Fund

Increasing extreme weather events are causing suffering and economic devastation throughout the
developing world. Discussions at the G7, United Nations Forum on Financing for Development and
various regional government fora are exploring tools for innovative finance to offer relief when
natural disaster strikes. Recent reports from the International Monetary Fund, the UN Conference
on Trade and Development and the Vatican highlight concerns about potential economic shocks,
increasing debt vulnerabilities, shadow finance and possible financial crisis. Some examples of
recent initiatives and proposals the session will explore include hurricane clauses, debt payment
moratoriums, model law, budget and revenue transparency provisions and natural-disaster triggered
debt restructuring.

Sponsors: Jubilee USA Network, Latindadd

Click here for printable event flyer. 

Click here for flyer in Indonesian. 

Available for Interview and On-Camera Interviews: Eric LeCompte, Executive Director
Contact: Kate Zeller, Campaigns Director - [email protected] / (o) (202) 783-3566 x105 / (m) (503) 936-7553

Eric LeCompte, Executive Director of Jubilee USA was recently quoted in Aleteia speaking on rebuilding efforts in Puerto Rico one year after Hurricane Maria. Read excerpt below and follow link to full article.

One year after hurricane "María", Puerto Rico is still in a delicate financial situation ... and humanitarian

"The Congress and the White House must have the remaining help so that Puerto Rico can rebuild and resist the next hurricane," said Eric LeCompte, executive director of the Jubilee USA Network group. LeCompte testified before the Congress and the supervisory board of Puerto Rico about the financial crisis of the island.

Read more here.

Washington DC - The International Monetary Fund announced a $7 billion increase to its credit line to Argentina. IMF lending to Argentina now totals $57 billion, making it the largest lending program in IMF history.    

Eric LeCompte is the Executive Director of the religious development group Jubilee USA. He has tracked Argentina debt for the last 10 years. LeCompte releases the following statement:

"The new lending to Argentina is very concerning.

“Argentina has had a difficult history with the IMF, austerity and predatory vulture hedge funds. We don't want history to repeat itself."