Poverty

Great Zine On Collective Housing Strategies and Tactics

Hey Folks! We have just finished writing a zine on living in an activist collective intentional community. It was written as a practical guide with tools and references to assist in achieving a more sustainable approach to strategies and tactics for reaching goals. We approach this work from the experience in our shared collective narrative in an effort to ground much of the theory in our practice.

Argentina Braces For Default

by Merry PhamArgentina is likely to default barring a last-minute breakthrough in negotiations with hold-outs or a court order. Argentina's grace period to pay bonds restructured after its 2001 default expires July 30th. United States District Judge Thomas Griesa ruled Argentina cannot pay the 92% of restructured bond holders unless Argentina also pays hold-out predatory hedge funds in full. "Argentina is hours from default," said Eric LeCompte, Executive Director of the religious financial reform organization, Jubilee USA Network. "At this point, a deal seems unlikely.

Argentina Debt Payments Blocked by US Court

The Argentine government announced Thursday that it transferred funds to the Bank of New York Mellon to pay the 92% of bond holders who restructured aft

IMF Paper: Corporate Tax Avoidance Hurts Global Economy and Poor Countries

The International Monetary Fund (IMF) released a staff paper noting that corporate tax avoidance negatively impacts all economies, but hurts developing countries the most. The IMF's release comes as the G20, the Organization for Economic Cooperation and Development and United Nations bodies seek vehicles to diminish corporate tax avoidance. "The developing world loses more in corporate tax avoidance than it receives in aid from developed countries," stated Eric LeCompte, Executive Director of the religious anti-poverty group, Jubilee USA Network.

IMF Releases Paper on Ending Predatory Behavior: Paper Propels IMF Board Financial Stability Decisions

The International Monetary Fund (IMF) officially released a major paper focused on increasing stability in the financial system and preventing predatory hold-out behavior in debt restructuring.

Argentina Responds to Supreme Court with Debt Swap Plan: Global Consequences of Court Ruling Remain Intact

 In reaction to an adverse Supreme Court ruling against Argentina, President Cristina Fernández de Kirchner announced that Argentina would offer new bonds to its creditors governed under Argentine law.

Argentina Battles in Two World Cups

While Argentina prepares to face Bosnia Sunday in the first round of the World Cup, the South American soccer power faces a second major contest in a very different venue. The United States Supreme Court will announce in June if it will hear Argentina vs NML Capital that impacts the operation of the global financial system.

Supreme Court Justices Consider Hearing Argentina Hedge Fund Debt Case

US Supreme Court justices will decide next steps in the Argentina vs NML Capital debt case today. The case dates back to 2001 when Argentina defaulted on its debts and a group of predatory hedge funds purchased some debt for pennies on the dollar. The hedge fund NML Capital leads a group of hold-out creditors in suing the country for more than $1 billion. The case will set a precedent that will impact the functioning of the global financial system.

Global Jubilee Movement Meets Pope Francis

Pope Francis welcomed members of the global Jubilee movement to the Vatican on Wednesday as they were received for high level meetings with Vatican Secretary of State Cardinal Pietro Parolin and Cardinal Peter Turkson, head of the Pontifical Council for Justice and Peace. The Catholic Church, various Christian Churches, Jewish groups and trade unions founded the global Jubilee campaign that successfully cancelled more than 130 billion dollars in sovereign debt and has won tax policies to benefit people living in the poorest countries of the world.

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