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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
World Health Assembly Wrestles with Coronavirus
As the global coronavirus death toll tops 300,000 people, the leaders of the World Health Organization (WHO) prepare to hold their leadership meetings virtually from May 18th - 19th. Continue reading
Posted May 15, 2020 at The Jubilee Blog
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Developing Countries Struggle with Coronavirus Health and Economic Impacts
Additional Resources Urgently Needed Says Religious Development Coalition Washington DC - From Ecuador to the Dominican Republic to Ethiopia, developing countries are struggling to obtain aid and financing to address the health and economic impacts of the coronavirus. "Because of... Continue reading
Posted May 1, 2020 at The Jubilee Blog
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Hedge Fund Threatens Trade Tribunal to Sue Peru for Old Military Debt
Washington DC - A US hedge fund is threatening to sue Peru for $5.1 billion over decades-old military debts it bought. The fund, Gramercy, argues the Peruvian government's current repayment plan is inadequate and that it will sue Peru through... Continue reading
Posted Apr 29, 2020 at The Jubilee Blog
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Hedge Fund Threatens Trade Tribunal to Sue Peru for Old Military Debt
Washington DC - A US hedge fund is threatening to sue Peru for $5.1 billion over decades-old military debts it bought. The fund, Gramercy, argues the Peruvian government's current repayment plan is inadequate and that it will sue Peru through a tribunal system embedded in a 2009 US-Peru trade agreement... Continue reading
Posted Apr 29, 2020 at My Blog
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United Nations Warns of Famine, Urges Debt Relief and Calls for New Debt Process to Confront Coronavirus
Over the last 48 hours, United Nations agencies warned the coronavirus could spread famine to hundreds of millions, called for new debt relief processes and the UN's chief urged expanding debt relief and aid to more countries. Continue reading
Posted Apr 23, 2020 at The Jubilee Blog
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Economic Crisis Could Get Much Worse Says IMF
The International Monetary and Financial Committee, the leadership of the IMF, released their Spring Meetings communiqué calling coronavirus economic impacts, "unprecedented" and that "the global economic outlook is subject to high uncertainty."
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Posted Apr 17, 2020 at The Jubilee Blog
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G20 Suspends Debt Payments for Poor Countries As the Coronavirus Spreads
The G20 announced a suspension of debt payments and interest for the world's 76 poorest countries in order to bolster health services to confront the coronavirus. Continue reading
Posted Apr 15, 2020 at The Jubilee Blog
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Major Religious Institutions Urge President, IMF and G20 to Cancel Debts and Use Reserves to Protect Poor
Many of the largest religious institutions are calling for financial crisis protections, debt relief and additional resources to protect the world's poor in what the IMF calls the greatest financial crisis since the Great Depression. The 80 groups joined a... Continue reading
Posted Apr 14, 2020 at The Jubilee Blog
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IMF Calls "Great Lockdown" Worst Economic Crisis Since the Great Depression
The IMF says we face the worst economic crisis since the Great Depression because of the coronavirus. As world leaders gather virtually for the Spring International Monetary Fund and World Bank Meetings, the Fund released its April World Economic Outlook... Continue reading
Posted Apr 14, 2020 at The Jubilee Blog
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Catholic Bishops Urge President Trump to Lead Global COVID-19 Debt Relief
The US Conference of Catholic Bishops and Jubilee USA Network, an interfaith religious group, is urging President Trump to lead the G20 on coronavirus global debt relief plans. Continue reading
Posted Apr 9, 2020 at The Jubilee Blog
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IMF Gold Reserves Can Provide Coronavirus Relief Says Development Group
Washington, DC - As the International Monetary Fund, G20 and world leaders consider urgent actions to confront the economic impacts of the coronavirus, a development group says IMF money is available to prevent crisis and support healthcare. "We believe the Fund should take additional, deeper actions to expand debt relief,... Continue reading
Posted Apr 1, 2020 at My Blog
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United Nations Agency Calls for $1 Trillion COVID-19 Debt Relief Package
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... Continue reading
Posted Mar 31, 2020 at My Blog
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IMF Announces Coronavirus Debt Relief and Increased Lending Resources
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... Continue reading
Posted Mar 27, 2020 at My Blog
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G20 Emergency Meeting Convenes on Coronavirus Health and Economic Impacts
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... Continue reading
Posted Mar 26, 2020 at My Blog
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Somalia Wins Debt Relief
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... Continue reading
Posted Mar 25, 2020 at My Blog
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IMF and World Bank Ask G20 to Halt Debt Collection for Poor Countries
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... Continue reading
Posted Mar 25, 2020 at My Blog
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Amidst Covid-19 Spread, IMF and World Bank Signal Debt Relief for Poor Countries
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... Continue reading
Posted Mar 24, 2020 at My Blog
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Jubilee USA Urges Immediate IMF Covid-19 Action
Religious Development Group Proposes Solutions for Pandemic Economic Impacts 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... Continue reading
Posted Mar 23, 2020 at My Blog
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IMF and Word Bank Heads Debate Growing Debt Problems
The leaders of the World Bank and IMF discussed concerns of global debt levels at an event held today at the World Bank Preston Auditorium. Continue reading
Posted Feb 10, 2020 at My Blog
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Pope Francis and World Leaders Call for Inclusive Economy
Vatican - Pope Francis addressed a small group of Finance Ministers, the head of the IMF and noted economists urging the creation of new global debt and tax policies that can reduce inequality and end poverty. "Pope Francis asserts that to live in a world with so much wealth, when... Continue reading
Posted Feb 5, 2020 at My Blog
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IMF Chief Warns of Financial Disaster Driven by Inequality
IMF Head Kristalina Georgieva warns of a return of the Great Depression driven by inequality and financial sector instability in a speech delivered at the Peterson Institute of International Economics. Continue reading
Posted Jan 17, 2020 at The Jubilee Blog
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President Trump Authorizes Somalia Debt Relief
Washington DC - President Trump signed a year-end spending bill which authorizes the first phase of debt relief for Somalia. Earlier in the week Congress passed the spending package which included $35 million to begin paying the principle of $1.1... Continue reading
Posted Dec 21, 2019 at The Jubilee Blog
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Congress Passes Somalia Debt Relief
As part of the Federal government's year-end spending package or "minibus," Congress passed the first phase of debt relief for Somalia. On Tuesday the House of Representatives passed the DHS Cyber Hunt and Incident Response Teams Act of 2019 (HR... Continue reading
Posted Dec 18, 2019 at The Jubilee Blog
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Religious: Senate Pass Transparency Legislation
More than 80 national religious bodies and local churches, synagogues and Muslim groups sent a letter to the Senate urging passage of the ILLICIT CASH Act (S.2563) and the Corporate Transparency Act (S.1978). Continue reading
Posted Dec 12, 2019 at My Blog
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Unable to Access Recovery Loans, Puerto Rico Waits for Promised Federal Aid
According to FEMA, out of 9000 recovery projects requested for Puerto Rico since Hurricanes Maria and Irma struck in 2017, less than 190 projects received funding. Over the same period 3700 projects were funded in Texas and more than 3700 in Florida reports the New York Times. Continue reading
Posted Nov 29, 2019 at The Jubilee Blog
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