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Jubilee USA Network
Washington, DC
Building a global economy that serves, protects and promotes the participation of the most vulnerable.
Recent Activity
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By Natalia Kolbjornsen Eric LeCompte, Jubilee USA's executive director, wrote a letter to Congress urging them to protect the debt restructuring process created by the Puerto Rico Oversight, Management and Economic Stability Act (Public Law No 114-187, “PROMESA”). He has... Continue reading
Posted yesterday at The Jubilee Blog
By: Greg Williams Puerto Rico's oversight board meets on April 28th in New York and could authorize a bankruptcy process for debt ridden island. On May 1st Puerto Rico's loses protections from debt lawsuits and authorizing bankruptcy or "Title III"... Continue reading
Posted yesterday at The Jubilee Blog
By Greg Williams Before May, protections expire that shelter Puerto Rico from debt lawsuits and predatory financial groups popularly known as "vulture" funds. The Catholic Archbishop of San Juan and Puerto Rico's Bible Society head are calling on the island's... Continue reading
Posted 3 days ago at The Jubilee Blog
By Greg Williams Finance Ministers, heads of central banks and government delegations begin the official Spring International Monetary Fund (IMF) and World Bank meetings. ‎Earlier in the week the IMF released two bi-annual reports that raised concerns about global political... Continue reading
Posted 7 days ago at The Jubilee Blog
By Greg Williams The International Monetary Fund (IMF) released its bi-annual report on global economic stability, warning that the financial system could face serious risks in the year ahead. Ahead of the IMF/World Bank Spring Meetings in Washington, the Global... Continue reading
Posted Apr 19, 2017 at The Jubilee Blog
By Greg Williams The International Monetary Fund (IMF) released its bi-annual report on the state of the global economy, predicting that global growth will continue steadily but slowly. The report also raised the alarm on policies it labeled as "protectionism."... Continue reading
Posted Apr 18, 2017 at The Jubilee Blog
By Greg Williams Within weeks, Puerto Rico will likely enter bankruptcy proceedings tailored by Congress specifically for the US territory. The island's government and creditors are engaged in final talks to try and resolve the dispute before a May 1... Continue reading
Posted Apr 14, 2017 at The Jubilee Blog
By Greg Williams Puerto Rico’s electric utility company (PREPA) and bondholders reached an agreement to restructure $8.9 billion in debt, according to an announcement from the island's government. The deal still needs approval from a "control" board Congress created as... Continue reading
Posted Apr 6, 2017 at The Jubilee Blog
Representative Lloyd Doggett (D-TX) and ‎Senator Sheldon Whitehouse (D-RI)‎ introduced versions of the Stop Tax Haven Abuse Act in the House and Senate. The legislation makes it more difficult for multinational corporations to avoid taxes by "offshoring." Doggett also introduced... Continue reading
Posted Apr 5, 2017 at The Jubilee Blog
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By Greg Williams More than 11 million documents were leaked from a law firm based in Panama a year ago today. The "Panama Papers" implicate various global figures and officials in possible acts of fraud and corruption. "The Panama Papers... Continue reading
Posted Apr 3, 2017 at The Jubilee Blog
By Greg Williams Puerto Rico's Financial Oversight and Management Board meets in San Juan to discuss economic growth proposals for the island. At its March meeting, the board accepted Governor Rosselló's fiscal plan for a balanced budget. "There is no... Continue reading
Posted Mar 31, 2017 at The Jubilee Blog
By Greg Williams The House Rules Committee rejected an amendment that would‎ allocate Medicaid funding to Puerto Rico at an equal level to US states.‎ Medicaid in Puerto Rico is currently funded under a 'block grant' that will run out... Continue reading
Posted Mar 24, 2017 at The Jubilee Blog
By Greg Williams Puerto Rico's Archbishop Roberto González and Bible Society head Reverend Heriberto Martínez are asking Congress to pass child tax benefit and healthcare recommendations made by a bipartisan Congressional task force. The House of Representative's rules committee is... Continue reading
Posted Mar 22, 2017 at The Jubilee Blog
By Greg Williams G20 Finance Ministers and Central Bank Governors meet today and tomorrow in Baden-Baden, Germany. "Debt reduction, tackling global tax avoidance and trade policies are being discussed at the G20," stated Jubilee USA's executive director Eric LeCompte who... Continue reading
Posted Mar 17, 2017 at The Jubilee Blog
Eric LeCompte, the Executive Director of the religious development organization Jubilee USA, releases the following statement on the Federal Reserve raising interest rates by .25 points: "Over the last few years, poor countries took out more loans from wealthy countries... Continue reading
Posted Mar 15, 2017 at The Jubilee Blog
By Greg Williams "‎As religious leaders in Puerto Rico, we urge you to act on behalf of the 3.4 million American citizens living on the island," wrote two prominent ministers to Congress about ‎policies to help the debt-troubled island. Archbishop... Continue reading
Posted Mar 14, 2017 at The Jubilee Blog
During its New York City meeting, the Financial Oversight and Management Board of Puerto Rico accepted a revised fiscal plan from the island's Governor. The board rejected an earlier version of the plan last week. Eric LeCompte is the Executive... Continue reading
Posted Mar 13, 2017 at The Jubilee Blog
The Financial Oversight and Management Board of Puerto Rico rejected Governor Ricardo Rosselló's fiscal plan. Governor Rosselló has until March 11th to submit a revised plan for board approval. Eric LeCompte is the Executive Director of the religious development group... Continue reading
Posted Mar 9, 2017 at The Jubilee Blog
By Greg Williams The Financial Oversight and Management Board of Puerto Rico warns "the Commonwealth soon will be unable to pay essential services, including pensions, education, healthcare and public safety,"‎ as soon as June. The warning came in a letter... Continue reading
Posted Mar 8, 2017 at The Jubilee Blog
By Greg Williams Puerto Rico's Governor is asking Congress to extend protections against debt lawsuits as the island charts a path for economic recovery. Governor Ricardo Rosselló submitted a fiscal plan to Puerto Rico's "control" board requesting the board ask... Continue reading
Posted Mar 3, 2017 at The Jubilee Blog
By Greg Williams Puerto Rico's Governor Ricardo Rosselló released a new fiscal plan that seeks to balance the island's budget by 2019. Last summer the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) became law. PROMESA requires the island's... Continue reading
Posted Mar 1, 2017 at The Jubilee Blog
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By Natalia Kolbjornsen In an auditorium full of diverse individuals discussing Puerto Rico’s financial crisis, Miguel Soto Class expressed his enthusiasm that “this event shows how involved other people are, and we can’t imagine that it is all for nothing.”... Continue reading
Posted Feb 28, 2017 at The Jubilee Blog
By Greg Williams Treasury's Financial Crimes Enforcement Network (FinCEN) renewed requirements for title insurance companies to identify the real owners behind shell companies in six major metropolitan areas. These “Geographic Targeting Orders” started in 2016 and preliminary reporting found that... Continue reading
Posted Feb 23, 2017 at The Jubilee Blog
By Greg Williams Congress has not acted on recommendations made by its Puerto Rico task force it implemented last year. The Congressional Task Force on Economic Growth in Puerto Rico was established by Congress last summer as a part of... Continue reading
Posted Feb 17, 2017 at The Jubilee Blog
By Greg Williams President Trump signed into law Congressional action to void requirements that the oil, gas and mining industries report financial activity in countries where they operate. The bipartisan 1504 "Cardin-Lugar amendment" to the 2010 Dodd-Frank Wall Street Reform... Continue reading
Posted Feb 14, 2017 at The Jubilee Blog