March 2020

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 the Great Depression," stated Eric LeCompte, the Executive Director of the religious development group Jubilee USA.

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 urgently needed," said Jubilee USA Executive Director Eric LeCompte. LeCompte's organization sent a letter to the IMF on Monday urging debt relief, increased below market-rate lending and improving debt restructuring processes.

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.

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.

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.