Newswire

Vatican Official Calls for "Jubilee"Washington DC -  A United Nations agency that predicted the 2008 financial crisis is calling for $1 trillion in debt relief for developing countries to battle the economic impacts of the coronavirus. "We are in a recession and likely facing the greatest financial crisis since the Great Depression," stated Eric LeCompte, the Executive Director of the religious development group Jubilee USA.

Washington DC -  As the coronavirus continues to take lives and wreak havoc on health systems and the economy, the International Monetary Fund announced plans for debt relief for poor countries and increased lending resources for all countries. "Debt relief and aid to bolster health systems in developing countries is urgently needed," said Jubilee USA Executive Director Eric LeCompte. LeCompte's organization sent a letter to the IMF on Monday urging debt relief, increased below market-rate lending and improving debt restructuring processes.