UN Forum Wrestles with Funding Development (tags)
After months of negotiations and four days of formal meetings, the United Nations voted on development policies at the fourth UN Financing for Development Forum. The UN meetings convene world leaders, ministers, governments, the IMF, World Bank and development groups. The annual process attempts to implement the 2015 Addis Ababa Action Agenda, an international agreement that includes policies on debt, tax, trade, transparency and aid.
IMF Warns of Global Financial Crisis Risk (tags)
For the second day in a row, the International Monetary Fund raised concerns of pending financial crisis. Ahead of the Spring IMF and World Bank meetings, the IMF released the Global Financial Stability Report, warning of "vulnerabilities" in corporate debt, house values and sovereign (country) debt.
IMF Says Global Economy Faces a "Delicate Moment" (tags)
As world leaders, finance ministers, business leaders and development groups gather for the Spring International Monetary Fund and World Bank meetings, the IMF raises fresh concerns about the global economy. The IMF releases the biannual World Economic Outlook Report noting a slowdown in global growth and focusing on economic challenges that include unsustainable debt, trade tensions and the impact of natural disasters on the financial system.
Puerto Rico Debt Advisors Subject to Conflict Disclosure (tags)
After an investigation into potential conflicts of interest in Puerto Rico's debt restructuring, the island's oversight board notes it will increase disclosure requirements for advisors. The investigation began in response to a debt consultant whose affiliate company holds Puerto Rico debt.
Puerto Rico Debt Deal Receives Court Approval (tags)
Judge Laura Taylor Swain approved a deal to restructure $17 billion of Puerto Rico's $72 billion debt on Monday.
PR Debt Cancel, Judge Reviews Cofina Debt (tags)
The Oversight Board in Puerto Rico has just filed for a dismissal of $6 billion of the island's debt because they say it was contracted unconstitutionally.
G20 Discusses Preventing Financial Crisis and Small Island Economies (tags)
President Trump arrived in Buenos Aires on Thursday for the annual G20 meetings.
Oversight Board Reviews New Fiscal Plan for Puerto Rico (tags)
Puerto Rico's oversight board reviews a new plan on economic growth and debt payments to the island's creditors in San Juan today.
IMF Lowers Global Growth Projections and Raises Concerns of Financial Crisis (tags)
Bali, Indonesia - The International Monetary Fund released the World Economic Outlook Report and lowered global growth projections to 3.7 percent for 2018 and 2019.
Over 20 State Attorneys General Call for Shell Company Transparency (tags)
24 State Attorneys General wrote to Congress supporting action to disclose the actual owner of a shell company to law enforcement.
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.
Finance Ministers Applaud Greece Debt Deal that Provides Aid and Continues Austerity (tags)
European Finance Ministers endorse a new Greece debt agreement that provides financing in exchange for maintaining austerity policies and economic reforms.
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.
Puerto Rico Governor and Oversight Board Spar on Fiscal Plan (tags)
The certification of a plan to get Puerto Rico out of debt and back to economic growth was delayed again this week.
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 Development Group Urges Stronger Corporate Reporting Standards (tags)
Jubilee USA, a religious development group, asked the Financial Accounting Standards Board (FASB) to require greater disclosure of what payments corporations make to governments where they operate.
Puerto Rico and US Virgin Island Religious Leaders Issue Debt and Aid Statement As Preside (tags)
As President Trump visits Puerto Rico and the US Virgin Islands, island religious leaders are calling for aid, debt relief and measures to end child poverty. The statement is issued by San Juan's Catholic Archbishop, Roberto González Nieves, St. Thomas' Catholic Bishop Herbert A. Bevard and Evangelical Bible Society Head Reverend Heriberto Martínez.
Hurricane Maria Slams Dominica and Heads Towards Puerto Rico (tags)
Caribbean islands recovering from Hurricane Irma, now confront Hurricane Maria.
Jubilee USA: Antigua and Barbuda and Islands Dealing with Irma Should Stop Debt Payments (tags)
As Hurricane Irma heads to the US coast, a religious development group is calling for debt payments to be suspended until Antigua and Barbuda and other severely impacted Caribbean nations recover from the storm.
US and Puerto Rico Faith Groups Send Congress Recommendations on Island's Crisis (tags)
Religious leaders in Puerto Rico and Jubilee USA urged a new Congressional task force to reform US laws to promote economic growth in Puerto Rico.