Time is Running Out! Contact Your Senator About the Jubilee Act Today.

July, 22 2008 | Thanks to your hard work, your meetings, phone calls and emails, on June 24, 2008 the Jubilee Act Act for Responsible Lending and Expanded Debt Cancellation (HR 2634/ S 2166) passed the Senate Foreign Relations Committee! With only one week left before the August recess, and limited legislative time this fall, your Senators must hear from you in order to pass the Jubilee Act in the Senate. Call your Senator today!

CHANGES MADE TO THE SENATE VERSION OF THE BILL. We celebrate the inclusion of the same Haiti Amendment that was included in the House, which calls for the Secretary of the Treasury to work for immediate debt cancellation for Haiti. Stronger language on vulture funds, and a Sense of the Congress that the United States should fully fund its prior commitments to the International Financial Institutions.

WHAT'S NEXT FOR THE JUBILEE ACT. It must now be considered and passed by the full Senate before it can go to the President and be signed into law. Keep your eye on our website for updates.

This legislation would expand debt cancellation to impoverished countries that need it to fight poverty, promote responsible lending and require an audit of odious, illegal and onerous loans. The bill passed the House of Representatives by a 285-132 vote on April 16. TAKE ACTION! Contact your Senators and urge them to co-sponsor the Jubilee Act.

New Campaign to Stop Vulture Culture

June 27| Together with Africa Action and TransAfrica Forum, Jubilee USA has launched a new campaign to stop the harmful practices of vulture funds that prey on poor countries.

‘Vulture fund’ is a name given to a company that seeks to make profit by buying up debt in default on the secondary market for pennies on the dollar, then trying to recover up to ten times the purchase price, often by suing impoverished countries in U.S. or European courts. Some vulture funds target failing companies, but our coalition is focused on those that target the sovereign debts of impoverished countries.

LEARN MORE Get Resources, Action Materials & More Info on Vulture Funds
TAKE ACTION Sign the E-Petition

Time for New Leadership on Global Poverty & Debt!

Jubilee USA Network has launched a new campaign to reshape our nation’s leadership in the world and make a call for U.S. leadership that prioritizes global poverty and justice. We need a U.S. president who will be a bold leader in the fight against global poverty.

SHOW THE NEXT U.S. PRESIDENT YOUR 'PICTURE' OF LEADERSHIP ON GLOBAL POVERTY! Our goal is to have thousands of debt and poverty advocates from around the country send a clear message to the presidential candidates: “Picture an End to Global Poverty: Cancel Debts! More & Better Aid!” We want to give our future leaders a clear picture of what real leadership on debt and extreme poverty looks like! To help candidates "get the picture" we have an exciting challenge for you!

"Get the Picture" Contest
Picture New Leadership Backgrounder
Presidential Candidate Petitions
TAKE ACTION E-Petition For Presidential Candidates John McCain & Barack Obama Coming Soon!

Briefing Notes: Jubilee USA Releases Policy Reports

Read the first five in a series of six new issue BRIEFING NOTES that Jubilee USA will be releasing this year. These short policy papers are designed to provide quality background information on some of the key policy issues that Jubilee is working on. Also, access our policy archive for past policy papers.

JAN.08 BRIEFING NOTE ONE: Expanded Debt Cancellation: A Key Tool to Fight Global Poverty reviews the literature and makes the case for expanded debt cancellation beyond the current HIPC Initiative. DOWNLOAD

FEB.08 BRIEFING NOTE TWO: Recent Development on IMF Gold Sales and Debt Cancellation, looks at recent proposals from the IMF to sell some of its gold and the implications for debt campaigners. DOWNLOAD

FEB.08 BRIEFING NOTE THREE: Are IMF and World Bank Economic Policy Conditions Undermining the Impact of Debt Cancellation? contains the latest information on IMF and other economic policy conditions such as privatization that are limiting the benefits of debt cancellation. DOWNLOAD

APRIL.08 BRIEFING NOTE FOUR: Vulture Funds & Poor Country Debt: Recent Developments & Policy Responses explains the activity of vulture funds, identifies countries at-risk and what a coalition of organizations, including Jubilee USA, is doing to publicize and curtail vulture fund activity. DOWNLOAD

APRIL.08 BRIEFING NOTE FIVE: Recent Developments On Odious & Illegitimate Debt explores the latest developments on the issue of odious and illegitimate debt highlighting the push for the cancellation of Iraq’a debt, which was led by the United States, and Ecuador’s precedent-setting debt audit. DOWNLOAD

JUNE.08 BRIEFING NOTE SIX: World Bank Group Resources & Debt Cancellation identifies how the World Bank could mobilize up to $23.4 billion total of its additional resources by 2020 which could be used to cover the cost of expanded World Bank debt cancellation without compromising the Bank's operational capacity or financial strength. DOWNLOAD