Debt High on G20 Agenda as Faith Leaders Call for Debt Relief and Aid for Developing Countries

A Jubilee for Solidarity: Towards a People and Planet Driven Financial Architecture for Africa

November 19, 2025 | 9:00 - 11:00 am SAST, 2:00 - 4:00 am Washington DC, 10:00 am - 12:00 pm Addis Ababa, 1:00 - 3:00 am St. Paul, 11:00 pm - 1:00 am San Diego, 2:00 - 4:00 am Bogotá, 4:00 - 6:00 am Buenos Aires, 8:00 - 10:00 am Cologne, 10:00 am - 12:00 pm Abu Dhabi, 3:00 - 5:00 pm Manila, 2:00 - 4:00 pm Jakarta

This G20 event brings together global faith leaders to explore and reimagine debt relief and sustainable development driven by the G20 commitments. 

Sponsors: Caritas Internationalis, Caritas Africa, The Symposium of Episcopal Conferences of Africa and Madagascar (SECAM), Southern African Catholic Bishops' Conference (SACBC)

Location: Varna Room, Birchwood Hotel, Johannesburg, South Africa

Livestream available online: https://www.youtube.com/live/Wkz0YIRNvdU

G20 Interfaith Forum: Pathways for Partnership with Religious Communities and the G20

November 19, 2025 | 2:00 - 4:00 pm SAST, 7:00 - 9:00 am Washington DC, 3:00 - 5:00 pm Addis Ababa, 6:00 - 8:00 am St. Paul, 4:00 - 6:00 am San Diego, 7:00 - 9:00 am Bogotá, 9:00 - 11:00 am Buenos Aires, 1:00 - 3:00 pm Cologne, 4:00 - 6:00 pm Abu Dhabi, 8:00 - 10:00 pm Manila, 7:00 - 9:00 pm Jakarta

Moderator: Professor Cole Durham
President G20 Interfaith Forum

Moderator: Professor David Mosoma
G20 Interfaith Local Organising Committee Chair

Pastor Bert Pretorius
Founder of the South African Community of Faith-Based
Fraternals and Federations (SACOFF), South Africa

Eric LeCompte
Executive Director, Jubilee USA Network

Dr Sylvia Pheto
Commissioner CRL Rights Commission, G20 Interfaith Local Organising Committee

Kevin Hyland OBE
CEO Prevent Global

This G20 event is a panel of global, African Union and South African experts highlighting ways that diverse religious communities can build effective partnerships with the public sector to contribute to achievement of our G20 objectives. The panel draws on what was learned through G20 Interfaith Forum dialogue and experience.

Location: Cedarwood Room, Atrium Center, Birchwood Hotel, Johannesburg, South Africa. Prior registration required.

RSVP to join virtually if link is available or receive a video copy contact Maria Kolb at [email protected] 

Jubilee Prayers for People and Planet

November 21, 2025 | 2:00 - 3:30 pm SAST, 7:00 - 8:30 am Washington DC, 3:00 - 4:30 pm Addis Ababa, 6:00 - 7:30 am St. Paul, 4:00 - 5:30 am San Diego, 7:00 - 8:30 am Bogotá, 9:00 - 10:30 am Buenos Aires, 1:00 - 2:30 pm Cologne, 4:00 - 5:30 pm Abu Dhabi, 8:00 - 9:30 pm Manila, 7:00 - 8:30 pm Jakarta

Global, regional and South African inter-religious leaders and organizations herald 5 years of Jubilee campaigns and encourage the G20 to move policies on debt relief, economic aid for developing countries and improving the financial system to end poverty and heal our planet.

Location: Constitution Hill, Johannesburg, South Africa

Sponsors: Jubilee USA Network, All Africa Conference of Churches, Laudato Si' Movement, Christian Aid, Caritas Internationalis, Caritas Africa, The Methodist Church of Southern Africa, World Council of Churches

In-person registration required. You can register here: https://wetheninetynine.com/register/

Livestream available online: https://wetheninetynine.com/livestream/

Read Jubilee USA's Executive Director Eric LeCompte's thoughts ahead of the G20 in Devex: https://www.jubileeusa.org/feature_devex_nov_18_25

Eric LeCompte, Executive Director of Jubilee USA, was recently featured in Devex speaking on debt relief and restructuring ahead of the G20 Summit in South Africa. Read the excerpt below and follow the link to full article.

What are the key issues at stake at the G20 summit in South Africa?

By: Elissa Miolene

“We go into this G20 meeting knowing that, with all the challenges in the world, the only consensuses that the G20 currently has is on debt and economic growth. And I think that’s really important,” said Eric LeCompte, the executive director of the Jubilee USA Network, a coalition focused on debt reform. “I think we’re going to hear more about the need for faster and speedier debt restructuring and debt relief [at the Leaders’ Summit].”

But even so, LeCompte added, the world is still moving slowly on implementation. He referred to the past year’s progress on debt as “bittersweet,” adding that while there’s been some movement — and importantly, stronger visibility on debt issues — implementation has continued to move slowly."

Read more here.

Eric LeCompte, Executive Director of Jubilee USA, was recently featured in Devex speaking on the global debt burden impacting African nations. Read the excerpt below and follow the link to full article.

Devex Newswire: Will Africa be forever indebted to its rich creditors?

By: Anna Gawel

“The G20 understands that if we don’t fix the global debt problem, we’re not going to return to strong economic growth,” says Eric LeCompte of the Jubilee USA Network. “We see the promise of the G20 coming together at this time and reiterating their commitment to dealing with debt, and that’s incredibly important. But we need the G20 to do more.”

Read more here.

South Africa G20 Presidency Focuses on Debt Relief

Eric LeCompte, Executive Director of Jubilee USA was recently featured in Devex speaking on the G20’s Ministerial Declaration on debt relief. Read the excerpt below and follow the link to full article.

G20 recommits to debt relief - but critics say it’s far from enough

By: Elissa Miolene and Adva Saldinger

”The G20 understands that if we don’t fix the global debt problem, we’re not going to return to strong economic growth. We’re going to see rising food and fuel prices, and of course more and more developing countries will go into crisis,” said Eric LeCompte, the executive director of Jubilee USA Network. “We see the promise of the G20 coming together at this time and reiterating their commitment to dealing with debt, and that’s incredibly important. But we need the G20 to do more.”

Read more here.

Washington DC – The International Monetary Financial Committee, the IMF policymaking body, met on Friday during the IMF and World Bank Annual meetings to discuss the global economic situation, debt and other challenges.

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 IMFC Chair's statement and the IMF meetings:

"Low economic growth and countries holding high debts is a very serious problem impacting most countries, but poor countries are wrestling with the greatest challenges.

"For developing countries, high debt service payments will continue to grow.

"We saw more commitments to make debt restructuring more timely and adequate, but there is limited progress.

"The IMF fears that we will see even lower economic growth in the future.

"Uncertainty in the economy and job creation weighed heavily on the minds of all of us at this year’s IMF and World Bank meetings.

"It is absolutely urgent for us to follow Pope Leo’s message that the poor must be at the center of our economic policy decisions."

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 IMF Global Financial Stability Report and World Economic Outlook report here.

Read Jubilee USA's statement on the IMF World Economic Outlook Report here.

Read Jubilee USA's statement on the Global Financial Stability Report here.

View and join Jubilee's events this week at the IMF, World Bank and G20 meetings here.

Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.

Read our Jubilee analysis on Pope Leo's first official teaching document “Dilexi Te,” released ahead of this week's meetings calling on world leaders to ensure the poor are at the center of economic decisions, here.

Reuters quotes Eric LeCompte, Executive Director of Jubilee USA, on the G20 and its recent declaration on debt during the IMF and World Bank Annual Meetings. Read an excerpt below or the full article here.

G20 vows to keep focus on developing countries' debt issues

By: Andrea Shalal

"Eric LeCompte, executive director of Jubilee USA Network, said unsustainable debt remained a G20 priority, noting that developing countries spent $921 billion on interest payments alone - not principal - in 2024, a 10% jump from 2023, with more increases expected this year.

"We see a consensus around the severity of debt payment challenges, but not yet a consensus on how to solve the debt challenges," he said. "Countries cannot borrow their way out of this crisis."

Read more here.

Washington DC – G20 finance ministers met during the IMF and World Bank Annual meetings with an agenda focused on global economic growth, economic challenges and debt. While the G20 failed to release a joint communique, they did issue a joint consensus statement on debt.

"The G20 is very concerned by sluggish economic growth, uncertainty in the economy and financial market vulnerabilities.

"This is the first time since 2020, when the pandemic raged, that the G20 released a separate communique on debt.

"The G20 acknowledges that unsustainable debt is a priority and we can't improve the economy and create jobs without addressing global debt.

"In 2024, developing countries spent $921 billion on just interest payments. That's more than a 10 percent increase from 2023 and 2025's numbers will be even worse.

"We see a consensus around the severity of debt payment challenges, but not yet a consensus on how to solve the debt challenges.

"Countries cannot borrow their way out of this crisis.

"High debts in developing countries mean we are facing a serious development crisis and low prospects of global economic growth.

"It is incredibly significant that the G20 agreed that borrowing countries need to have a bigger voice in shaping solutions to debt challenges.

"While the G20 couldn't agree on a joint communique, they came together around the debt issues.

"While we have a lot of work to do together, we have a strong G20 consensus that debt and financial crises must be addressed."

Read the full chair's statement and ministerial declaration on debt sustainability here.

Read Jubilee USA's press release on the IMF Global Financial Stability Report and World Economic Outlook report here.

Read Jubilee USA's statement on the IMF World Economic Outlook Report here.

Read Jubilee USA's statement on the Global Financial Stability Report here.

View and join Jubilee's events this week at the IMF, World Bank and G20 meetings here.

Read Jubilee USA's press release on IMF chief Kristalina Georgieva's curtain-raiser speech here.

Read our Jubilee analysis on Pope Leo's first official teaching document “Dilexi Te,” released ahead of this week's meetings calling on world leaders to ensure the poor are at the center of economic decisions, here.

Partners,

This week we are delivering hundreds of thousands of your petitions from 160 countries to the IMF and World Bank during their annual meetings in Washington DC.

Following the lead of our Jewish members, partners and founders - we will blow the Shofar in front of the IMF and World Bank tomorrow in an inter-religious celebration. The root word of Jubilee is Yovel, the Hebrew word for the sound of the Shofar - the ram's horn used to announce a new year. Starting at the G7 in Canada this past June, several of our rabbis began this tradition of blowing the Shofar and marking the next 5 years of our campaigns with 200 organizations.

Sign up your family, organization, congregation, faith community or group to hold a Jubilee event and blow a horn, a bugle or a shofar at a Jubilee event before the end of the year.

This is an opportunity to gather petitions and educate on the next 5 years of our efforts. You can use this background flyer on how to hold an event this year, before the end of the Jubilee Year on January 6th, 2026. When you sign-up we will send you prayers and action resources. Our next global petition delivery will be at the South Africa G20 Summit at the end of November.

As we gather this week in Washington DC, all over the world partners are celebrating Jubilee week, October 12th - 19th, with creative actions to move world leaders on debt relief, economic aid and changes to the financial system to protect the poor. Ahead of the IMF, World Bank and G20 meetings - Pope Leo - issued his first official teaching encouraging world leaders to make economic decisions that lift and protect the poor.

Sign up now to organize a gathering of sound and signing petitions between now and January 6th, 2026 - announcing 5 years of Jubilee campaigns in 160 countries.

Blessings,

Washington DC – The IMF releases the Global Financial Stability Report and flags growing vulnerabilities under global financial markets that “appear calm.” 

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 is alluding to a bubble in financial markets.

"A lesson from financial history is consistent. When bubbles burst, the poorest pay the highest price.

"More developing countries are issuing debt in domestic markets, which could make their banking sectors more vulnerable.

"The report warns of the risks that stablecoins can bring, especially for emerging markets.

"The report recommends improving oversight of pension funds, insurance companies and investment funds whose risks cannot be separated from the banking system that the average person uses."

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.

Read Jubilee USA's press release on Pope Leo's first official teaching document “Dilexi Te” here.