Newswire

G20 Emergency Meeting Convenes on Coronavirus Health and Economic Impacts

Submitted by Anonymous on Thu, 03/26/2020 - 15:24

Washington DC -  Saudi Arabia chaired an emergency virtual G20 meeting for Presidents and Prime Minsters as the coronavirus wreaks havoc on the global economy. The leaders pledged to pump $5 trillion into the economy, cooperate on health efforts and address debt risks facing poor countries."World leaders are incredibly concerned about a crisis that is taking lives and could destroy our economy," shared Eric LeCompte, a United Nations finance expert and Executive Director of the religious development group Jubilee USA.

Labor/Economics/Business
Poverty

Somalia Wins Debt Relief

Submitted by Anonymous on Wed, 03/25/2020 - 17:33

Washington, DC -  The International Monetary Fund and World Bank announced that Somalia qualifies to receive debt relief. In three years time, Somalia's debt will be reduced from $5.2 billion to $557 million."Debt relief for Somalia is incredibly exciting news and can't come soon enough," said Eric LeCompte who leads Jubilee USA, a development group that advocated for debt relief for the African country.

Labor/Economics/Business

IMF and World Bank Ask G20 to Halt Debt Collection for Poor Countries

Submitted by Anonymous on Wed, 03/25/2020 - 14:01

Washington, DC -  The International Monetary Fund asked G20 countries and other lending countries to stop collecting debt from poor countries due to the coronavirus pandemic."We urge lending countries to take up this call so billions of dollars can be freed up for poor countries dealing with impacts of the coronavirus," said Eric LeCompte who leads Jubilee USA. The religious development group sent a letter to the IMF on Monday urging debt payment moratoriums.

Labor/Economics/Business
Poverty

Amidst Covid-19 Spread, IMF and World Bank Signal Debt Relief for Poor Countries

Submitted by Anonymous on Tue, 03/24/2020 - 11:20

Washington, DC -  On Monday the heads of the IMF and World Bank stated support for debt relief for very poor countries as the coronavirus spreads. African Finance Ministers called for suspension of debt payments to free up $44 billion to fight Covid-19. Ecuador's Congress also demanded its government stop paying debt."Countries need to prioritize fighting Covid-19 and billions can be freed up right away by halting debt payments," stated Eric LeCompte who leads the development group Jubilee USA and serves on United Nations debt expert groups.

Globalization/Anti-globalization
Labor/Economics/Business

Jubilee USA Urges Immediate IMF Covid-19 Action

Submitted by Anonymous on Mon, 03/23/2020 - 16:37

Washington, DC - The leadership of a religious development group wrote the head of the International Monetary Fund, Kristalina Georgieva, to help stop negative economic consequences of the Covid-19 virus. “Economic forecasts warn that a possible financial crisis or depression, spurred by the coronavirus, could be worse than the 2008 financial crisis,” warned the letter sent on Monday to the IMF from Jubilee USA's executive officers, Celeste Drake, Reverend Steve Herder, Rabbi Matthew Cutler, Reverend Aniedi Okure and Eric LeCompte.

Elections/Legislation/Government
Labor/Economics/Business

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