Eric LeCompte, Executive Director of Jubilee USA, was recently quoted in a radio-recording explaining the Jubilee Commission Report.  Listen here (3:02-5:20) or read a transcript below.

Eric LeCompte, Executive Director of Jubilee USA was recently quoted, speaking on the Jubilee Commission Report launch, which took place at the Vatican on June 20th. Read an excerpt below or the full article here. 

Finance experts launch report at Vatican on foreign debt relief

By: Cindy Wooden

"The Holy Year 2025 can have a lasting impact on the world's poorest countries if governments and international institutions embrace a key element of the biblical concept of jubilee by forgiving, restructuring or pausing foreign debt repayments, said a report commissioned by Pope Francis

At the late pope's request, the Pontifical Academy of Social Sciences and the Initiative for Policy Dialogue at Columbia University in New York brought together 30 global experts in debt, development and the global financial system to address the current debt crisis, prevent future crises and promote sustainable development.

The "Jubilee Commission," which began meeting in February, released "A Blueprint for Tackling the Debt and Development Crises and Securing a Sustainable People-Centered Global Economy" June 20 at the Vatican.

"Today, 3.3 billion people live in countries that spend more on interest payments than on health, and 2.1 billion live in countries that spend more on interest payments than on education," the report said. "Interest payments on public debt are therefore crowding out critical investments in health, education, infrastructure and climate resilience."

The indebted governments—"fearful of the political and economic costs of initiating debt restructurings—prioritize timely debt payments over essential development spending," the report said. "This is not a path to sustainable development. Rather, it is a roadblock to development and leads to increasing inequality and discontent."

Eric LeCompte, executive director of Jubilee USA Network, an interfaith group promoting debt relief and development, was not a member of the commission, but supported its work and was at the Vatican for the launch of the report.

Changing the way loans to developing nations are made, structured and restructured when a crisis occurs is essential because economic crises "are the main causes for war, for human rights violations, for migrations, for many of the environmental challenges that we are having," he told Catholic News Service June 19.

Many people will say, "A debt that is owed is a debt that should be paid," LeCompte said, "but I think it's more complicated than that.""

Eric LeCompte, Executive Director of Jubilee USA was recently featured in Devex. In the article, LeCompte discusses the release of a playbook on debt restructuring proposed by world leaders at the World Bank and IMF Spring Meetings. He discusses the statements made by Kristalina Georgieva and Treasury Secretary Scott Bessent, as well as the need to deal with the debt crisis and tariffs. Read an excerpt below, or the full article here.

US tariffs threaten to push debt-distressed nations closer to the brink

By: Jesse Chase-Lubitz

"The playbook guides countries on how to assess debt sustainability, whom to hire on legal and financial issues, and how to engage early with creditors.

"Eric LeCompte, executive director of Jubilee USA, said that the playbook “puts more information at the hands of countries trying to get out of the debt crisis.” However, the playbook is “limited” and “doesn’t offer the creative thinking that we need to get to economic stability,” he added.

In the meantime, the IMF has said that cuts in development aid, trade tensions, and possible rising inflation in some countries will push more countries into deeper debt crises.

“Both the IMF’s head, Kristalina Georgieva, and Treasury Secretary Scott Bessent made helpful statements about the real need to deal with debt challenges in a more preemptive way and before we reach a crisis,” said LeCompte, referring to remarks from Bessent on Wednesday about the need to “minimize periods of debt distress.”

However, LeCompte added that while the statements are “really helpful, we are seeing little action to actually resolve the greater debt crises that will now unfold.”"


Read more here. 

Eric LeCompte, Executive Director of Jubilee USA was recently quoted in Reuters, speaking on the push to reduce the World Bank's equity-to-loan ratio amidst recent cuts to development aid in the U.S. and Europe. Read an excerpt below, or the full article here. 

World Bank urged to reduce equity-to-loan ratio to free up funds for poor countries

By: Andrea Shalal

"Jubilee USA Network, a religious development group, said it backs the push, and it urged the World Bank to act quickly.

"The World Bank can and should make this decision as soon as possible," said Eric LeCompte, the group's executive director and a United Nations adviser. "With the significant cuts we've seen from the U.S. and Europe on development aid, this action by the World Bank can fill this aid gap.""


Read more here.

Eric LeCompte, Executive Director of Jubilee USA was recently quoted in Devex Newswire, speaking on Pope Francis' involvement in the issues of debt and financial crises, as well as his enduring legacy during the Jubilee year. Read an excerpt below, or the full article here. 

Devex Newswire: Jobs, nukes, and jitters at the World Bank Spring Meetings

By: Helen Murphy

"Pope Francis has died, but the priorities he championed live on.

“As the former Catholic leader of his home country Argentina, he spoke differently than past Popes on the issues of debt and financial crisis because of his experience. In Argentina, he saw first hand the impacts of poverty and debt crisis on his people," said Eric LeCompte, executive director of Jubilee USA, in a statement.

Earlier this year, Pope Francis made global debt relief and new processes to aid the poor the focus of the Jubilee year — a mission that “will continue as the central themes despite his death,” LeCompte said."


Read more here. 

Eric LeCompte, Executive Director of Jubilee USA was recently featured in Reuters speaking on IMF chief Kristalina Georgieva's curtain raiser speech and the renewed push for preemptive debt restructurings, ahead of the Spring 2025 IMF and World Bank meetings. Read an excerpt below, or the full article here. 

IMF chief hails new playbook to help countries navigate sovereign debt processes

By: Andrea Shalal

"Eric LeCompte, executive director of Jubilee USA Network, a coalition of religious, development and advocacy groups, welcomed Georgieva's renewed push for preemptive debt restructurings before countries got into deeper trouble.

He said the tsunami of tariffs imposed by the U.S. that were met with countermeasures from other countries, along with prospects for rising inflation, continued high debt levels and downgraded growth prospects threatened to hit middle-income countries particularly hard and could worsen debt issues.

He said debt experts were particularly worried about countries in Sub-Saharan Africa and parts of Asia, but even countries like South Africa, India and the Philippines faced challenges given their exposure to tariffs."

Read more here.

Eric LeCompte, Executive Director of Jubilee USA was recently featured in OSV News regarding the joint letter between the USCCB and Jubilee USA Network written to President Trump on debt relief, moving new forms of economic aid and changes to the financial system to address poverty and stabilize food as well as fuel prices. Read an excerpt below, or the full article here. 

US bishops ask Trump in joint letter to pursue global debt relief in the Jubilee Year

By: Kimberley Heatherington

"In a world economy rocked by the whiplash of American trade tariffs that has spared few countries, the U.S. Conference of Catholic Bishops and Jubilee USA Network, an interfaith development group, have a proposition for President Donald J. Trump: Forgive some debts."

Read the full letter to President Trump from the US Conference of Catholic Bishops and Jubilee USA Network here.

Read Pope Francis' June Jubilee 2025 debt focus speech here.

Learn about the global Jubilee interfaith launches and December Holy See launch here.

Jubilee USA Network and Eric LeCompte, Executive Director of Jubilee USA, were recently featured in Catholic World News regarding the joint letter between the USCCB and Jubilee USA written to President Trump on debt relief, moving new forms of economic aid and changes to the financial system to address poverty and stabilize food as well as fuel prices. Read an excerpt below, or the full article here. 

USCCB committee chairman calls on President Trump to lead the way on international debt relief

"The chairman of the US bishops’ Committee on International Justice and Peace, joined by the executive director of the Jubilee USA Network, thanked President Donald Trump for his actions on behalf of international debt relief in his first administration and called for additional actions during the 2025 jubilee year."

Read the full letter to President Trump from the US Conference of Catholic Bishops and Jubilee USA Network here.

Read Pope Francis' June Jubilee 2025 debt focus speech here.

Learn about the global Jubilee interfaith launches and December Holy See launch here.

Jubilee USA Network was recently featured in LiveWire Calgary, as one of the groups representing interfaith communities and bringing the conversation around international debt relief and the 2025 Jubilee year to the G7 in Calgary. Read an excerpt below, or the full article here. 

Interfaith community offers alternative conversation on economy during G7

By: Aryn Toombs

Eric LeCompte, Executive Director of Jubilee USA was recently featured in OSV News speaking on the costs of medical care and the cycle of debt. Read an excerpt below, or the full article here. 

‘This is a miracle to them’: How the church is helping to erase medical debt

By: Kimberley Heatherington

"Eric LeCompte — executive director of the Jubilee USA Network, a coalition of religious, development and advocacy groups that has secured more than $130 billion in debt relief for the world’s poorest economies — agreed.

“Knowing so many families who have struggled with being able to afford medical care, the No. 1 piece of advice that hospitals and pharmaceuticals and others are giving to people is, go start a GoFundMe in order to pay for your medical bills. I think that’s absolutely tragic — and in many ways, is actually sinful,” he said."

Read more here.