Poverty

IMF Warns of Unstable Financial System

Washington DC - The International Monetary Fund warns of growing financial instability as a result of high debts and risky investing in the release of the IMF 2019 Global Financial Stability Report. The report raised fears that developing countries are borrowing too much."The Fund is recommending more transparency and greater surveillance of corporate and country debt," shared United Nations debt expert and Jubilee USA Director, Eric LeCompte. "While these recommendations are good, they fall short of the policies we need to prevent the next financial crisis.

IMF Reports Dismal, "Uncertain" Economic Outlook

Washington DC - The International Monetary Fund downgrades global economic forecasts, calling the future of the economy, "precarious" and "uncertain," with the release of the 2019 World Economic Outlook Report."This is the most bleak economic outlook report that I've seen from the Fund," noted Jubilee USA Director Eric LeCompte who monitored IMF reports since 2010. "World leaders should be very concerned."As a result of global economic risks, rising debt levels and trade tensions, the IMF's flagship report down graded economic growth projections to 3 percent.

New Senate Bill Combats Shell Companies United Nations Debates Tax Havens

Washington DC - A bipartisan group of Senators introduced the "Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings (ILLICIT CASH) Act" to stop the creation of shell corporations in the United States.

CCNV Summer Fundraiser: Supporting Our Homeless Neighbors

 CCNV Summer Fundraiser: Supporting Our Homeless Neighbors Everyone is welcome to come out for the CCNV Summer Cookout & Fish Fry Fundraiser. All proceeds will go toward the upkeep of the building and to benefit the nearly 1000 homeless DC residents who reside there. We will have freshy fried whiting fish, flavored to perfection, hamburgers or cheeseburgers, all beef hot dogs, and all the trimmings. Ice cold bottles of water and your favorite chips and sodas on the side.

Code locks return to area Starbucks restrooms

Over the course of the July 4 weekend, several DC area Starbucks outlets were observed with code locks on restroom doors reactivated. They were turned off (but never removed) in the aftermath of the infamous Philadelphia incident where an African-American businessman was arrested after asking to use to toilet. It looks like Starbucks's plan from day 1 was to turn the locks off only long enough for the uproar to die down.

Puerto Rico Debt Advisors Subject to Conflict Disclosure

Washington DC - After an investigation into potential conflicts of interest in Puerto Rico's debt restructuring, the island's oversight board notes it will increase disclosure requirements for advisors. The investigation began in response to a debt consultant whose affiliate company holds Puerto Rico debt."It's critical that any groups who are hired to advise on Puerto Rico's debt crisis disclose if they also own debt or have a conflict of interest," noted Jubilee USA Executive Director Eric LeCompte.

BLM blockades Chinatown, "National Emergency" protesters rally at White House

At Noon on the 18th of February, protesters at the White House declared that TRUMP is the "national emergency". This is over his attempt to claim dictatorial powers to remove as many Brown people from the US as possible and build his wall. At the exact same time, Black Lives Matter blockaded Chinatown, protesting MPD and Bowser for their efforts to remove as many Black people from DC as possible.

Video of the blockade at 7th and H sts with the mock prison cells 3 min 16 sec

Protesters and mock prison cells exclude car traffic from prime shopping territory in Chinatown.

Puerto Rico Debt Deal Receives Court Approval

Judge Laura Taylor Swain approved a deal to restructure $17 billion of Puerto Rico's $72 billion debt on Monday. Court approval was the last hurdle creditors and the island's oversight board needed for a plan to address sales tax backed debt or "COFINA" debt."We are worried that not enough debt is being cut and that Puerto Rico's people are carrying heavy austerity burdens," said Jubilee USA Executive Director Eric LeCompte, who monitors Puerto Rico's debt. "The math isn't adding up.

Judge Delays Ruling on Puerto Rico Debt Deal White House Opposes Island's Food Assistance Funding

On Thursday, Judge Laura Taylor Swain delayed approval of a $17 billion debt deal between Puerto Rico "COFINA" creditors and the island's oversight board. Citing concerns that her ruling could alter Puerto Rico's constitution, the judge requested additional materials to review on Monday from the federally appointed oversight board."We are concerned that the plan under consideration doesn't cut enough debt," said Eric LeCompte who heads Jubilee USA and has monitored the island's financial situation since 2015.

Tenant Activists protest sale of rent controlled buildings to developers by Catholic Church

On the 16th of September, DC area community activists showed up outside the Basilica of the Shrine of the Immaculate Conception, demanding that the Catholic Church cancel plans to sell off rent-controlled buildings near Rhode Island avenue to developers who intend to evict the tenants.

Video-speakers call out the greed and hypocrisy of the Church throwing tenants out in the street for 30 pieces of silver

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