Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Eric LeCompte, Executive Director
Contact: Zachary Conti, Director of Policy and Advocacy
zach@jubileeusa.org / (202) 670-2327

Press Release

IMF Cancels Debt for 28 Poor Countries into Fall of 2021

WASHINGTON -

The IMF Executive Board extended a process to cancel debt payments for the world's 28 poorest countries. The Catastrophe Containment and Relief Trust (CCRT) provided debt relief for the last year and now will continue through October 15, 2021.

Eric LeCompte, the Executive Director of the religious development group Jubilee USA Network and an IMF expert, releases the following statement on the CCRT debt relief extension:

"This is good news for the world's poorest countries.

"Cancelling debt, for these vulnerable countries, means resources can be spent on healthcare and social services."

"While this is important debt relief in the short term, we now need to work on cancelling debts for the long term. Only long-term debt reduction can support developing countries to emerge from the pandemic with resilience."

Read the IMF release on the CCRT extension here.

###

Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.

Indignation as Michigan Judge Drops Flint Water Charges Against GOP Ex-Gov Snyder

"The people of Flint deserve justice—and it's unacceptable that the people responsible for Flint's water crisis aren't being held accountable," said Food & Water Watch in response to the development.

Brett Wilkins ·


70+ Lawmakers Tell Biden 'You Can and You Must' Provide Rail Workers Paid Sick Leave

"As president, you and your administration have a number of tools at your disposal to make sure rail workers are guaranteed paid sick leave," wrote the lawmakers.

Julia Conley ·


COP15 Biodiversity Summit Highlights 'Deadly' US Attitude Toward the World

"While others play by the rules, the most powerful nation refuses," writes George Monbiot. "If this country were a person, we'd call it a psychopath. As it is not a person, we should call it what it is: a rogue state."

Jessica Corbett ·


Final House Covid Panel Report Exposes 'Reckless' Trump Pandemic Response

The publication accuses top Trump officials of "failed stewardship" and a "persistent pattern of political interference" that undermined the nation's response to a pandemic that has killed more than a million people in the United States.

Brett Wilkins ·


As NYT Staffers Strike, Sanders Calls for 'New Ways to Empower' Workers Battling Industry Giants

"We need to rebuild and protect a diverse and truly independent press so that real journalists and media workers can do the critical jobs that they love, and that a functioning democracy requires," said the Vermont progressive.

Kenny Stancil ·

Common Dreams Logo