Poverty

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.

 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.

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.

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.