Jubilee USA Statement on IMF and World Bank Meetings and Development Committee Communiqué
Jubilee USA Statement on IMF and World Bank Meetings and Development Committee Communiqué
April 09, 2021
Washington DC - The Development Committee, a ministerial-level consensus building and policymaking body for the World Bank and the IMF, met as part of the Spring IMF and World Bank Meetings.
Eric LeCompte the Executive Director of the religious development organization Jubilee USA, a UN expert who monitors IMF and World Bank meetings, releases the following statement on the meetings and World Bank Development Committee Communiqué: While we ve made some significant progress in combating the coronavirus crisis, this week s meetings lacked ambition and should be defined as a lost opportunity.
Fox Business Features Jubilee USA Campaigns on Debt Relief
Fox Business Features Jubilee USA Campaigns on Debt Relief
Fox Business features Jubilee USA s efforts urging the White House and IMF to go beyond the moratorium on debt payments and expected SDR allocation to cancel debt and expand debt relief for developing countries. Find an excerpt below or read the full story here.
G20 finance officials to meet on pandemic measures, US global minimum tax plan
By Andrea Shalal
Finance officials from the Group of 20 major economies are poised to back a $650 billion boost in the IMF s emergency reserves on Wednesday and extend a freeze on debt payments as part of an effort to help developing countries still struggling to combat the COVID-19 pandemic. The G20 gathering, taking place virtually on the sidelines of the spring meetings of the International Monetary Fund and World Bank, will also give U.S. Treasury Secretary Janet Yellen a chance to press for a global minimum tax on corp
Common Dreams Pens In-Depth Article on Jubilee COVID Letter Endorsed by 260 Organizations
Common Dreams Pens In-Depth Article on Jubilee COVID Letter Endorsed by 260 Organizations
April 07, 2021
Common Dreams quotes Eric LeCompte on Jubilee USA s letter urging additional debt relief measures in low- and middle-income countries. Read an excerpt below, and click here for the full story. We Must Do More : Hundreds of Advocacy Groups Urge Biden, G20, and IMF to Increase Pandemic Aid
By Common Dreams
While both the G20 and IMF have agreed to temporarily suspend debt payments for dozens of developing nations, Eric LeCompte, a United Nations finance expert who heads the Jubilee USA Network, said these moves are not enough.
Pope Francis leads his general audience in the library of the Apostolic Palace at the Vatican April 7, 2021. (CNS photo/Vatican Media)
Pope Francis has highlighted a global crisis that has been obscured by the inescapable Covid-19 catastrophe but has the potential to lead to comparable human suffering. In a letter on April 8 to the participants in the spring 2021 virtual meeting of the World Bank and the International Monetary Fund, Pope Francis called for “a model of ‘recovery’” from Covid-19 “capable of generating new, more inclusive and sustainable solutions to support the real economy. and the universal common good,” not “a return to an unequal and unsustainable model of economic and social life, where a tiny minority of the world’s population owns half of its wealth.”
The Associated Press
ap photo
The logo of the International Monetary Fund is visible on their building Monday in Washington.
WASHINGTON Finance officials of the world’s major economies on Wednesday agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support to vulnerable countries struggling to deal with a global pandemic.
The Group of 20 major industrial countries issued a joint statement that also announced the approval of a final six-month moratorium on debt payments by 73 of the world’s poorest countries.
The proposal to increase the IMF’s resources received a boost earlier this year when it got the backing of the Biden administration. The resources are known as IMF Special Drawing Rights and create an asset that countries can use to bolster their own reserves.