Jubilee USA Network

  • Facebook
  • Twitter
  • Instagram
Donate
  • About
    • The Jubilee Story
    • Congregations and Faith Communities
    • Spring 2023 Internships
    • Eric LeCompte, Executive Director
    • Leadership
    • Staff
    • Directions
    • Financial Information
  • Issues
    • Debt and Lending
    • Tax, Corruption, Transparency
    • Trade
    • Banks and Financial Institutions
    • Bankruptcy and Financial Crisis
  • Pray
    • Christian Resources
    • Jewish Resources
    • Muslim Resources
  • Act
    • Act Now
    • Join
    • Donate
  • Press

Pages tagged "puerto rico"


Posted on Mass emails · September 14, 2018 5:48 PM

Friends,

September 20th marks the one-year anniversary of Hurricane Maria, a category 5 hurricane, making landfall on the islands of Puerto Rico and the U.S. Virgin Islands.

As Hurricane Florence hits the East Coast, we are reminded of the destruction caused by Hurricane Maria on Puerto Rico and the US Virgin Islands nearly one year ago. The Category-5 Storm left almost all of the islands without food, electricity, or clean water and many American citizens lost their lives in the storm and its aftermath.

Join Jubilee USA, September 20-23rd, in Praying for Healing and Recovery with the people of Puerto Rico and the US Virgin Islands on the one-year anniversary of Maria! Sign on to commit to the pray today!

Gather your friends, family, congregations and community anytime from September 20-23rd to remember those on the islands who are still in need of healing and recovery. Let's join together across the nation next weekend and show Puerto Rico and US Virgin Islands that we remain in solidarity with them. They continue to be in our hearts, thoughts and prayers.

Join us, September 20-23, as we unite in prayer with the people from the islands for their healing and recovery and while we mourn the many lives that were lost. Sign up and get resources here!

As peoples of faith, we stand firm in our beliefs of the transforming power of prayer. You are encouraged to read the Interfaith Prayer for Healing and Recovery on behalf of the islands during your worship service, Prayer Vigil or candle lighting. Help us win a better future for Puerto Rico and the US Virgin Islands by standing with our brothers and sisters during this anniversary week. Together let us pray and act to secure more aid and a comprehensive and sustainable recovery for them!

Peace,

Kate Zeller


Posted on Pray by Lydia Andrews · September 14, 2018 5:07 PM

Interfaith Prayer for Healing and Recovery

As we remember the one-year anniversary of Hurricane Maria and the devastation that it brought upon our neighbors in Puerto Rico and the US Virgin Islands, we both grieve the devastation and loss of life that occurred, and recognize the ways in which you God are present even in these difficult times and in the midst of this crisis.

As we consider the many needs of the people of these islands, we pray for mercy, comfort, and relief for our brothers and sisters at this time.

As people of faith, we will continue to outstretch our arms in support and ask for the help that is beyond our means.

We pray for the hearts and minds of those in power, that they too might see the needs of your people, and view Puerto Rico and the US Virgin Islands with eyes of compassion.  

We are standing with them.

Thank you, oh God of many names, for the hope that leads us onward.

Amen.


Pray for Healing and Recovery for Puerto Rico and the US Virgin Islands

Posted on Surveys, SignUps, RSVP by Lydia Andrews · September 14, 2018 4:50 PM

Nearly one year ago, Hurricane Maria devastated Puerto Rico and the US Virgin Islands. The storm left almost all of the islands without food, electricity, or clean water and led to the deaths of thousands of U.S. citizens. Puerto Rico and the US Virgin Islands deserve the same attention and treatment as other areas on the mainland, and the same levels of healthcare and child tax benefits as American citizens. Join with us on the one-year anniversary of Hurricane Maria the weekend of September 20-23 by holding a prayer vigil with your local community to mourn and honor those who lost their lives and call for increased aid and more equitable policies for Puerto Rico and the US Virgin Islands.

Act: On September 20-23, religious groups and individuals across the country will be staging vigils to mourn the victims of Hurricane Maria and call for more aid and fairer policies for the islands. Hurricane Maria survivors, along with advocates and allies, will be also be hosting vigils.  

Who: All are welcome to host or attend a vigil, include the below prayer during the weekend service and/or light candles on behalf of those on the islands.

When: Anytime from September 20-23rd

Where: Places of worship, community centers, and homes across the country

Share: We are encouraging you to share photos of your event by tweeting at us @JubileeUSA and using the #1YearAfterMaria hashtag, tag us on our Jubilee USA Facebook and Jubilee USA Network Instagram page.  

 

Interfaith Prayer for Healing and Recovery

As we remember the one-year anniversary of Hurricane Maria and the devastation that it brought upon our neighbors in Puerto Rico and the US Virgin Islands, we both grieve the devastation and loss of life that occurred, and recognize the ways in which you God are present even in these difficult times and in the midst of this crisis.

As we consider the many needs of the people of these islands, we pray for mercy, comfort, and relief for our brothers and sisters at this time.

As people of faith, we will continue to outstretch our arms in support and ask for the help that is beyond our means.

We pray for the hearts and minds of those in power, that they too might see the needs of your people, and view Puerto Rico and the US Virgin Islands with eyes of compassion.  

We are standing with them.

Thank you, oh God of many names, for the hope that leads us onward.

Amen.

 

Prayer Vigils:

Lydia Andrews - Jubilee USA Network, Washington DC

Karen Lull - Dubuque, IA

Bishop Pat Bumgardner - New York, NY

Martín Anderson - First Congregational Church of Chicago-UCC, Chicago, IL

Octavia Pleas - Overland Park, KS

Mary Mendum - Wilton, CT

Barbara Lenarcic - Sisters of the Humility of Mary, Villa Maria, PA

Rabbi Matt Cutler - Congregation Gates of Heaven, Schenectady, NY

Rev. Will McGarvey - Community Presbyterian of Pittsburg, Pittsburg, PA

Steve Herder - Ascension Lutheran, Thousand Oaks, CA

Alexandra Singer

Barbara DiTommaso - Commission on Peace and Justice, Rensselaer, NY

Sr. Maria Christi Drysdale - Philadelphia, PA

 

 

 

 

 

Sign up

Senate Bill Offers Debt Relief for Puerto Rico

Posted on Press · July 25, 2018 1:33 PM
New Senate legislation offers additional options for Puerto Rico to cut its debt. Senators Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Kirsten Gillibrand (D-NY), Ed Markey (D-MA) and Kamala Harris (D-CA) introduced the US Territorial Relief Act. If Congress passes the act, US Territories that experience natural disasters could qualify for debt relief.
 
"Puerto Rico continues to struggle with the aftermath of Hurricanes Maria and Irma," noted Puerto Rico Archbishop Roberto González Nieves. "The hurricanes were made worse by debt crisis and austerity policies. Legislation such as this, can provide us more options for debt relief and greater transparency in the finances of our island."

The bill also creates an audit commission to study the causes of the debt. US Territories, like Puerto Rico, would qualify for relief if two of three criteria are met. The specific criteria refer to population decrease, receiving federal disaster aid and the total debt per person exceeds $15,000.
 
Both Puerto Rico and the US Virgin Islands likely meet the Senate Bill's eligibility requirements.

“Beyond debt relief, Puerto Rico and the US Virgin Islands still need Congress to authorize more disaster aid to rebuild to withstand the coming storms," stated Jubilee USA Executive Director Eric LeCompte. LeCompte serves on United Nation debt expert groups and works with Puerto Rico religious leaders on resolving the debt crisis. "Without seriously cutting Puerto Rico's debt there is little hope for reducing the high child poverty rate, let alone seeing sustainable economic growth."

Read the U.S. Territorial Relief Act of 2018 

Lea este comunicado de prensa en​ ​español


The Bond Buyer Interviews Eric LeCompte on Puerto Rico

Posted on Press by Sherry Xia · May 31, 2018 2:02 PM

Eric LeCompte, Executive Director of Jubilee USA was recently highlighted in The Bond Buyer speaking on emergency relief funds, the bankruptcy process and recovery efforts in Puerto Rico. Read excerpt below and follow link to full article.

Puerto Rico Bond Holders May Have to Wait More Than Two Years 

By Robert Slavin

Some observers, including Jubilee USA Network executive director Eric LeCompte and Council on Foreign Relation Senior Fellow Brad Setser, said the bankruptcy’s progress was reasonable considering the impact of Hurricanes Irma and Maria.

PROMESA “gave Puerto Rico some breathing space by allowing for a debt payment moratorium and preventing creditor litigation," LeCompte said. "PROMESA allowed Puerto Rico to default and made it disadvantageous for new predatory creditors to buy the debt. Finally, the legislation created a super bankruptcy process that is capable of restructuring all of Puerto Rico’s debt.”

LeCompte said PROMESA is the “first comprehensive debt restructuring process since the 1953 London Accord that restructured all of Germany’s debt.” He explained that by this he meant that it was the first time since the London Accord that both state-level and local government level debt was simultaneously restructured.

Read more here.


Eric LeCompte's Thoughts in ValueWalk on Next Hurricane Season

Posted on Press by Lydia Andrews · May 17, 2018 3:44 PM
Eric LeCompte, executive director of Jubilee USA, was quoted in ValueWalk's article today "As Atlantic Region Braces For Another Damaging Hurricane Season, Concern Grows: Islands are unprepared as forecasters predict three hurricanes again" ahead of the next hurricane season.  The article highlights how meteorologists are predicting another three "major" hurricanes this season.  LeCompte stresses the need for disaster and debt relief mechanisms and payment moratoriums ahead of these storms.
To read the full article, click here.

As Atlantic Region Braces For Another Damaging Hurricane Season, Concern Grows: Islands are unprepared as forecasters predict three hurricanes again

Mark Melin   
May 17, 2018

Efforts to reduce the country’s debt load in the wake of the hurricane appear to be moving backward, according to UN sovereign debt consultant and Jubilee USA Executive Director Eric LeCompte. He points out that the initial offer to pay 25 cents on the dollar to investors has now moved 40 cents as serious consideration is being given to so-called G.D.P.-linked bonds tied to the success or failure of the nation’s economic engine.

While efforts to prepare Puerto Rico, a US territory, require a response from the wealthiest nation on earth, smaller independent islands are especially exposed if a hurricane ravages the region again.

Moves are underway at the United Nations that could provide debt relief to independent islands such as Grenada, St Lucia, and Antigua if they are again stricken.

Recent public and private conversations have taken place at the United Nations Financing for Development Forum (FfDForum) in New York. The group is currently considering provisions for automatic debt relief and payment moratoriums when a disaster hits, as well as mandated debt restructuring. After the FfDForum focused on the measure, LeCompte says the G7, G20, International Monetary Fund or UN could call for its adoption and the creation of a legally binding process. Once approved at this level it could become legally binding, he said.

LeCompte expects the provisions to move forward in the next few months, just as the hurricane season could be approaching its historically most volatile period in the fall.


Praying with Puerto Rico and the US Virgin Islands

Posted on Surveys, SignUps, RSVP · March 19, 2018 10:51 AM

It's been six months since Hurricanes Maria and Irma devastated Puerto Rico and the US Virgin Islands. Because of your prayers and actions we continue to move forward debt relief and disaster aid for the islands. However, six months later we still need your prayers and action to address the humanitarian crisis on the islands. Today, many Puerto Ricans still don’t have reliable access to food, clean water, and other necessities.

Please join us March 23rd - 25th and pray for the people of Puerto Rico and the US Virgin Islands. Please sign-up your religious community and dedicate one prayer or petition during your religious service as we continue to act for those suffering on the islands. You can sign-up using the form below or contact [email protected] or 503-936-7553.

 

 - Sample Jubilee Prayer for Puerto Rico and US Virgin Islands - 

It has now been six months since Hurricanes Maria and Irma devastated our neighbors in Puerto Rico and the US Virgin Islands. In the midst of this continued crisis, we both grieve the devastation and loss of life that occurred, and recognize the ways in which you God are present even in these difficult times.

As we consider the many needs of the people of Puerto Rico and the Virgin Islands, we pray for mercy, comfort, and relief for our brothers and sisters in Puerto Rico at this time. We ask for restoration for all of your people on the islands.

As people of faith, we will continue to outstretch our arms in support and ask for the help that is beyond our mere means. We pray for the hearts and minds of those in power, that they too might see the needs of your people, and view Puerto Rico and the US Virgin Islands with eyes of compassion. We are standing with Puerto Rico and the US Virgin Islands.

Thank you, oh God of many names, for the hope that leads us onward. Amen.

 

Participating Congregations include:

 

Holy Spirit Missionary Sisters         Chicago, IL

Congregation Gates of Heaven       Schenectady, NY

Epworth United Methodist              Berkeley, CA

Skyline Community Church            Oakland, CA

Our Lady Queen of Peace               Arlington, VA

First Presbyterian Church               Portland, OR

University Lutheran Church            Mason, MI

University Lutheran Church            Gainesville, FL

Dominican Sisters                         Great Bend, KS

B'nai Sholom                                Albany, NY

Congregation Beth Emeth              Albany, NY

Congregation Berith Sholom           Troy, NY

Temple Sinai Saratoga                   Albany, NY

Notre Dame of Dallas                     Dallas, TX

Notre Dame of Elm Gove                Elm Grove, WI

Our Lady of Good Counsel              Mankato, MN

St. Mary of the Pines                      Chatawa, MS

Sancta Maria in Ripa                       St. Louis, MO

St. Joseph of the Capuchin Order    Detroit, MI

Ascension Lutheran                        Thousand Oaks, CA

Sisters of the Order of St. Benedict  St. Joseph, MN

Sisters of St. Joseph of Chambery   West Hartford, CT

Trinity Episcopal Church                 Lewiston, ME

St. Anne's Catholic Church              Birkenhead, England

St. Columba Catholic Church           Oakland, CA

Saint Robert's Catholic Church        San Bruno, CA

Sign up

WSJ Talks with Eric LeCompte about Puerto Rico Debt and Long-Term Growth

Posted on Press by Lydia Andrews · March 15, 2018 3:34 PM

Eric LeCompte, Executive Director of Jubilee USA was recently featured in The Wall Street Journal speaking on Puerto Rico debt. Read excerpt below and follow link to full article.

Why Puerto Rico is Proving to Be 2018’s Top Bond Investment

By: Matt Wirz

“The construction boom after the hurricane is fueling an increase in bond prices, but that’s going to be short lived,” said Eric LeCompte, executive director of Jubilee USA Network, one of the activist groups seeking debt forgiveness for Puerto Rico. “We should be focused on long-term economic growth for Puerto Rico and that includes debt relief.”

Read more here.

 


Eric LeCompte Featured in America, the Jesuit Review

Posted on Press · February 13, 2018 3:37 PM

Eric LeCompte, Executive Director of Jubilee USA was recently featured in America, the Jesuit Review speaking on Puerto Rico. Read excerpt below and follow link to full article.

Puerto Rico to receive $11 billion in disaster aid. Advocates warn it won't be enough.

By: J.D. Long-García

Eric LeCompte, executive director of Jubilee USA Network has serious doubts. “Half a million people in Puerto Rico are still without power,” he said.

“There’s a lot of hopelessness across the island,” Mr. LeCompte said, adding that hundreds of thousands have left Puerto Rico since the hurricane. According to Mr. LeCompte, there has been a surge in suicide rates. While Mr. LeCompte applauded the approval of disaster relief, he added that “the work of Congress is not over yet.”

Even before the hurricane, half of the children in Puerto Rico lived in poverty, according to Mr. LeCompte.

“The suffering was already great on the island with hundreds of schools closed,” he said. “Austerity was impacting health care and social services. Because of the debt crisis, Puerto Rico was ill-prepared to deal with hurricanes.”

Mr. LeCompte noted that many Americans still do not realize Puerto Ricans are U.S. citizens. Still, he expects the financial oversight board of Puerto Rico to recommend a five-year suspension of debt payments in the coming weeks.

“There is also a ‘super bankruptcy’ process taking place that Congress passed as a part of legislation,” Mr. LeCompte said. “That bankruptcy process will need to cut about 80 to 90 percent of the debt if Puerto Rico wants to see future economic growth.”

The island’s government estimates Puerto Rico needs $90 billion in aid in the aftermath of the hurricanes, Mr. LeCompte said. The U.S. Virgin Islands have requested more than $7.5 billion.

“We will need more disaster aid bills from Congress in the coming months,” he said. The current budget proposal also falls short of requests from California, Texas and Florida, according to Mr. LeCompte.

Read more here. 


New Law Provides Disaster Relief and Medicaid Funds for Puerto Rico and US Virgin Islands

Posted on Press by Lydia Andrews · February 09, 2018 10:26 AM
As the Sun rose over the Capitol, Congress voted for a bipartisan spending package to end a brief government shutdown. The Senate and House approved nearly $90 billion dollars in recovery aid for Puerto Rico, the US Virgin Islands, Florida, Texas and California. The final legislation also includes nearly $5 billion dollars to increase Medicaid funding for Puerto Rico. Shortly after Congress passed the measure, the bill was signed into law by President Trump.

"‎The human suffering in Puerto Rico and the US Virgin Islands continues, so I'm happy Republican and Democratic leadership could agree on disaster relief and healthcare funding for the poor," noted Jubilee USA Director, Eric LeCompte whose organization generated thousands of e-mails and phone calls to Congress ahead of the vote. "‎The work of Congress is not over yet. The aid package falls short of what the islands need and Congress will need to approve more disaster relief in the months ahead."

The spending bill includes more than $11 billion in recovery aid for Puerto Rico and the US Virgin Islands. More than $2 billion will be available to rebuild Puerto Rico's power grid. Moody's rating agency and the US Territory Governments estimate that more than $100 billion is needed to fully fund recovery and rebuilding efforts.

The law also includes money for Puerto Rico's Medicaid program that serves poor populations. Until Congress acted, Puerto Rico's Medicaid funding was weeks away from running out.

"We applaud Congress for moving forward the Medicaid funding for Puerto Rico," said LeCompte. "This program is critical for anti-poverty efforts and will generate billions of dollars for Puerto Rico's economy."

Religious leaders in Puerto Rico and across the United States have advocated for Medicaid financing with Congress and the White House for more than two years.

  • ← Previous
  • 1
  • 2
  • Next →

Join a campaign and take action

Act Now

Keep up with latest news

Press

Make a tax-exempt donation to Jubilee USA

Donate
Jan 20, 2023

Concerns of Growth, Pandemic, War and Inflation Top World Economic Forum Agenda

World Bank Cuts Global Growth Forecast as Developing Countries Struggle with Debt Washington DC – Ministers, business leaders, economists and development...
Read More

Stay Up To Date


Jubilee USA Network
Jubilee USA Network
110 Maryland Ave. NE, Ste 210
Washington, D.C. 20002
  • Tel: (202) 783-3566
  • Fax: (202) 546-4468
  • Email: [email protected]
  • Facebook
  • Twitter
  • Instagram
Sign in with Facebook, Twitter or email.
Spire Made. Created with NationBuilder.