Debt Relief, Climate and Recovery Aid Needed, Say Africa Catholic Bishops (tags)
African Catholic Bishops called for an overhaul of the financial system to address health, climate, food and other challenges the region faces.
COP28 Climate Summit Negotiations Focus on Commitments for Developing Countries to Adapt a (tags)
Most Developing Countries Spend More on Debt Service than on Addressing Country Climate Crisis Challenges
IMF Forecasts Lowest Growth in Decades as World Leaders Descend on Washington for Meetings (tags)
Debt Roundtable Meetings Attempt to Break Impasse on Debt Relief From China and Private Sector
Global Growth Remains Low Amidst Debt Concerns, War and Inflation, Says IMF (tags)
Press release.
IMF Predicts Global Economy to Lose $4 Trillion (tags)
The global economy is more fragile noted IMF Managing Director Kristalina Georgieva.
African Bishops Call for Debt Relief and Aid to Address Multiple Crises (tags)
G7 and African finance leaders should work together to remove the heavy burdens of debts in Africa, Catholic bishops and other faith leaders from the region said in Accra, Ghana, at the end of a two-day meeting.
President Trump Authorizes Somalia Debt Relief (tags)
President Trump signed a year-end spending bill which authorizes the first phase of debt relief for Somalia.
Congress Passes Somalia Debt Relief (tags)
As part of the Federal government's year-end spending package or "minibus," Congress passed the first phase of debt relief for Somalia.
States Tackle Student Debt and For-Profit Colleges Rise (tags)
Washington, DC - As Democratic presidential candidates debate student debt, States attempt to tackle what they see as a debt problem impacting their economies.
New Student Loan Rule Sides with For-Profit Colleges (tags)
This week the US Department of Education proposed new student "borrower defense" rules.
Senate Bill offers Debt Relief for Puerto Rico (tags)
New Senate legislation offers additional options for Puerto Rico to cut its debt. Senators Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Kirsten Gillibrand (D-NY), Ed Markey (D-MA) and Kamala Harris (D-CA) introduced the US Territorial Relief Act. If Congress passes the act, US Territories that experience natural disasters could qualify for debt relief.
G7 Hurricane Debt Relief Caribbean/Small Islands (tags)
“This is the first time that Finance and Development Ministers are meeting jointly at the G7 and they can promote solutions for when financial crises and humanitarian crises collide" note Eric LeCompte, Jubilee USA Network Executive Director.
UN Forum Wrestles with Economic Policies 10 Years After Financial Crisis Islands Call for (tags)
Officials from governments, the IMF, World Bank, the private sector and NGOs meet this week at the United Nations for the Financing for Development (FFD) Forum.
Caribbean Religious Leaders Call for Debt Relief in Face of Disasters (tags)
From Grenada to Saint Lucia, religious leaders are calling for processes to provide debt relief in the face of natural disasters.
Religious Groups Call for Aid and Debt Relief for Puerto Rico and Dominica (tags)
More than 130 faith communities across the United States are praying and acting for hurricane victims during religious services this weekend.
Development Group Says Debt Relief Can Provide Quick-Recovery Aid to Caribbean (tags)
The United States Conference of Catholic Bishops (USCCB) joins other religious and development groups in their call for debt relief for hurricane-battered Caribbean islands.
Caribbean Bishops and Development Groups Urge Debt Relief for Irma-Struck Islands (tags)
On behalf of Caribbean Catholic Bishops, Bishop Gabriel Malzaire called for islands dealing with Hurricane Irma to receive debt relief.
G7 Could Move Financing for Famine Relief, Says Religious Development Group (tags)
As G7 leaders continue to meet in Taormina, Italy, relief groups like Oxfam International are intensifying calls for aid monies to address famine.
Negotiators Struggle for Agreement on Debt and Tax Issues at UN Development Summit (tags)
A United Nations global development summit begins its fourth day of difficult negotiations in Nairobi, Kenya.
Puerto Rico’s Religious Leaders Call for Debt Relief and End to Austerity (tags)
Puerto Rico’s religious leaders called for debt relief in the face of the $72 billion financial crisis burdening the Caribbean US territory. At a press conference in San Juan, leaders of the principle religious groups laid out six principles to resolve the crisis.
IMF: Greek Debt Untenable (tags)
Greece
Greek Voters Reject Financing Plan (tags)
Article on recent election in Greece, concerning its debt.
Nepal Post Earthquake Aid Falls Short of Goals: No Debt Relief Pledged at Nepal Recovery C (tags)
This week's Nepal donor conference pledged $4.4 billion in aid to Nepal, short of the $6.6 billion Nepal requested for earthquake recovery. About half of the total financing is loans and half is grants. Nepal did not receive any pledges of debt relief while world leaders gathered in Kathmandu. The International Monetary Fund (IMF) said Thursday Nepal will not qualify for its new emergency debt relief trust fund. "The initial aid pledges are helpful and we can close the $2 billion gap quickly with debt relief," said Eric LeCompte, Executive Director of the religious development organization Jubilee USA Network. "One of the quickest ways that the World Bank, Asian Development Bank and governments can deliver rebuilding grants is by canceling debt." Nepal spends $600,000 a day paying its debt, or more than $35 million since the first April earthquake. The World Bank and the Asian Development Bank pledged a combined $1.1 billion in new concessional loans and grants. Nepal already owes the World Bank and Asian Development Bank approximately $3 billion. Although the World Bank has not announced plans for a debt relief fund, the IMF created the Catastrophe Containment and Relief Trust in the wake of the Ebola crisis and cancelled $100 million of West Africa's debt. IMF spokesperson Gerry Rice said Thursday Nepal met the first requirement for relief but that the earthquake did not cause enough total economic damage. Rice did not reference whether or not damage to Nepal's "productive capacity" pulled another trigger for the fund to release about $23 million in debt relief.
Nepal Conference Hopes to Raise $6.6 Billion in Post Earthquake Aid Debt Relief Could Be (tags)
Nepal Conference Hopes to Raise $6.6 Billion in Post Earthquake Aid Debt Relief Could Be Part of Nepal Recovery Plan
World Bank and IMF Announce $1.1 Billion in Debt Relief for Chad (tags)
The International Monetary Fund (IMF) and the World Bank announced $1.1 billion in debt relief for Chad. The money comes through the IMF and World Bank's two major debt relief programs: the Heavily Indebted Poor Country Initiative (HIPC) and the Multilateral Debt Relief Initiative (MDRI). Chad is the 36th country to receive HIPC relief and the first since 2012. Chad is the fourth-least developed country in the world. More than half its population lives in poverty.
Aftershocks Pummel Highly Indebted Nepal: Poor Country Spends 217 Million Annually on Debt (tags)
As Nepal experiences aftershocks from Saturday's earthquake, it may find relief in the IMF's Catastrophe Containment and Relief Trust, a fund that cancels the debt of poor countries in crisis.
World Bank Announces Package of Aid and Loans to Ebola-Affected Countries (tags)
The World Bank announces $650 million in new concessional loans and grants for Liberia, Guinea, and Sierra Leone at the start of the Spring IMF and World Bank Meetings.
IMF Reports Debt and Human Crises Drive Uneven Growth (tags)
Global Stability and Economic Outlook Reports Released
African Mayors Call for Debt Cancellation for Ebola-Stricken West Africa (tags)
G20 Moves Forward on Ebola Debt Relief Plan.
US Brings Jubilee Ebola Debt Relief Request to G20 (tags)
Treasury Secretary Lew Brings Jubilee USA Request for Debt Relief for Ebola-Stricken Countries to G20. US Seeks to Move IMF to Cancel $100 Million in Debt for Sierra Leone, Liberia and Guinea.
Debt Payments Dwarf Reconstruction Aid on Philippine's Typhoon Haiyan Anniversary (tags)
Religious, Development and Environmental Groups Petition World Bank for Debt Relief
Argentina Files Final Response Urging SCOTUS to Accept Predatory Hedge Fund Debt Case (tags)
Argentina filed its final Supreme Court response to hedge fund NML Capital urging the high court to take the case that the Financial Times calls "the debt trial of the century." Jubilee USA filed an Amicus Curiae brief in March noting that the precedent in the case will impact debt restructurings, poor country access to credit and debt relief programs designed to help people living in extreme poverty. The US government and the International Monetary Fund support Argentina. On June 12th, the Supreme Court is scheduled to discuss whether or not it will hear the case.
Isle of Man Enacts Legislation to Outlaw Vulture Funds (tags)
This week, the Isle of Man passed legislation that would prevent vulture funds from exploiting the debts of some of the world’s poorest countries.
California Scheming:Rudy Giuliani,Paul Singer, Vulture Funds Africa,GenesisIntermedia (tags)
In many ways it is Adnan Khashoggi as well as Paul Singer who are financing the campaign of Rudy Giuliani through money they made in the GenesisIntermedia pump and dump penny stock scam that collapsed around 9/11/01as well as money stolen from U.S. taxpayers and impoverished countries in Africa as well as Peru who were ripped off by the W Bush-Paul Singer 'Vulture Funds' fraud in which W Bush put U.S. funds in accounts directed at 3rd world debt only to have Mr. Singer come along and empty those accounts for his and the Republican Party's personal cash cow that was used to attempt changing California electoral voting system in favor of Rudy Giuliani and the Republican Party !
NeoCon 'Plan Africa' Oil Manifesto (tags)
“Along with Latin America, West Africa is expected to be one of the fastest growing sources of oil and gas for the American market. African oil tends to be of high quality and low in sulfur, making it suitable for stringent refined product requirements, and giving it a growing market share for the refining Centers on the East Coast of the U.S.” “National Energy Policy Report” Office of the Vice President Richard Cheney May 16, 2001
BTL:Neoliberal Conditions Attached to G8 Debt Relief Plan for... (tags)
...Poor Nations Exacerbate Poverty ~ Interview with Bill Fletcher, president of Trans Africa Forum, conducted by Between the Lines' Scott Harris
Hypocrisy that underlies HIPC (tags)
Vultures at the IMF/World Bank use accounting tricks to starve and further impoverish the poor.
Debt Relief Still Failing (tags)
Despite the fact that thousands die daily as a result of international debt, a leaked IMF and World Bank report shows that they will refuse to provide significantly deeper and broader debt cancellation for impoverished nations at their Annual meetings this September.