Labor/Economics/Business

Biden Names Transparency Advocate to Top Regulatory Post

Gary Gensler, former Wall Street regulator will be President-elect Biden's nominee to head the Securities and Exchange Commission (SEC), according to Reuters. Gensler will lead the agency created after the 1920's stock market crash to protect investors and enforce stability in the banking system.

Democratic Socialists of America "Santa" delivers coal to Congress

On the morning of Christmas Day, Dec 25, MetroDSA delivered a sack of coal (may have been charcoal) to Congress in "honor" of their betrayal of working-class people during the COVID 19 pandemic.

Stimulus Deal Ups Food Aid for Puerto Rico

Washington DC – Congress passed additional Nutrition Assistance Program food benefits for Puerto Rico as part of its $900 billion COVID stimulus plan.“During the pandemic too many people in Puerto Rico suffered cuts to food benefits,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA. “The new food assistance in the stimulus bill impacts 1.5 million people on the island.”Since the pandemic hit, Puerto Rico religious leaders, US national faith groups and Jubilee USA encouraged Congress to include Puerto Rico in stimulus package plans.

As G20 Leaders Meet, US Supports Expanding Debt Relief for Countries that IMF Says are Left Out

Washington DC – As G20 presidents and prime ministers convene, the IMF warns some countries are left out of the G20's new debt reduction process. Last Friday, the United States Treasury stated support for extending debt relief beyond the initial 73 poor countries which qualify for the G20 debt reduction process."The United States realizes that more countries will need debt relief to get beyond the coronavirus economic crisis," stated Eric LeCompte, the executive director of the religious development group, Jubilee USA.

G20, IMF and World Bank Negotiate COVID-19 Debt Relief and Aid Deals

Hundreds of Faith Communities, Development and Human Rights Groups Press for More AidWorld leaders met virtually for the Annual IMF and World Bank Meetings and moved forward several agreements on debt relief and aid for developing countries to combat the coronavirus crisis. In recent weeks, the Pope, G7, United Nations agencies and development groups called for a permanent debt reduction process.Hundreds of anti-poverty organizations, religious institutions and faith communities signed a letter to press the G20 and IMF on a pandemic response plan for developing countries.

COVID Crisis: G20 Defers Action on Aid, Tax and Debt Cancellation

G20 finance ministers agreed to extend debt payment relief for the 73 poorest countries and, in principle, to have a common framework to cancel debts. The G20 Finance Ministers and Central Bank Governors met on global COVID-19 response plans ahead of the Annual IMF and World Bank Meetings.

G7 Finance Ministers Support Debt Relief for Poor Countries Combating COVID-19 Crisis

The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting.

Battling Economic Crises, Tropical Storm Laura Slams Haiti and Dominican Republic

Over the weekend, Tropical Storm Laura pummeled Haiti and the Dominican Republic leaving at least 13 dead, infrastructure decimated and towns isolated by landslides.

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