RSN Fundraising Banner
FB Share
Email This Page
add comment

writing for godot

United Nations Agency Calls for $1 Trillion COVID-19 Debt Relief Package

Written by Jubilee USA Network   
Tuesday, 31 March 2020 06:56

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 can only get through this crisis if countries around the world have the ability to do similar stimulus packages that the United States and European countries are doing," stated LeCompte whose organization detailed a plan for the IMF on surviving a global financial crisis spurred by the coronavirus. "Debt relief, aid and financial crisis protections must urgently move forward so we can live through this pandemic."

On Monday, Vatican official, Cardinal Luis Antonio Tagle called for a "Jubilee" and for wealthy countries to relieve the debt of poor countries. On Sunday, Pope Francis warned that a "viral genocide" would take place if world leaders prioritized economic growth over the health of people.

A report released from the United Nations Conference on Trade and Development says debt payments should be suspended and ultimately eliminated for developing countries. The report further urged more than a trillion additional dollars be made available to support these countries struggling to withstand financial crises caused by the virus. Last week the International Monetary Fund and World Bank called on the G20 to suspend debt payments for the world's 76 poorest countries.

"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. "Massive debt relief and aid is needed as developing countries attempt to withstand the economic shocks caused by the coronavirus." your social media marketing partner
Email This Page


THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.