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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
By: Abby Wilhelm World leaders head to Taormina, Italy for the G7 Summit. ‎The May 26-27 gathering includes Heads of State from United States, Japan, Canada, Italy, United Kingdom, France and Germany. "Building the Foundations of Renewed Trust" is this... Continue reading
Posted yesterday at The Jubilee Blog
By Abby Wilhelm United Nations Deputy Secretary-General Amina Mohammed and the IMF's Christine Lagarde join world leaders for the Financing for Development (FfD) Forum at UN Headquarters. The meetings come almost two years after the Addis Ababa FfD Summit to... Continue reading
Posted 3 days ago at The Jubilee Blog
By Abby Wilhelm Puerto Rico religious leaders sent a letter to Judge Laura Taylor Swain as she presides over the first bankruptcy proceeding in San Juan to restructure more than $70 billion in debt.‎ “We are grateful you are here... Continue reading
Posted May 17, 2017 at The Jubilee Blog
By Abby Wilhelm Puerto Rico bankruptcy proceedings to restructure an over $70 billion debt begin on Wednesday in San Juan. The Title III debt restructuring process was created as a part of debt crisis legislation that was signed into law... Continue reading
Posted May 16, 2017 at The Jubilee Blog
By: Abby Wilhelm The Consumer Financial Protection Bureau (CFPB) escaped a May 11th deadline for Congress to void a rule designed to give prepaid card users similar protections as debit card users. Congress could have used the Congressional Review Act... Continue reading
Posted May 12, 2017 at The Jubilee Blog
By: Abby Wilhelm Puerto Ricans from across the United States and the Caribbean island are meeting in New York City to discuss ‎the island's economic crisis. The "Diaspora Summit II" is organized by Centro, a center for Puerto Rican studies... Continue reading
Posted May 12, 2017 at The Jubilee Blog
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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 Apr 27, 2017 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 Apr 27, 2017 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 Apr 25, 2017 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 Apr 21, 2017 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