The Jubilee Blog

Religious Groups Call for Aid and Debt Relief for Puerto Rico and Dominica

By Eric LeCompte

More than 130 faith communities across the United States are praying and acting for hurricane victims ‎during religious services this weekend. Religious groups are calling for debt relief and "no strings attached" reconstruction aid for hurricane-hit islands.

"Islands like Puerto Rico and Dominica are in critical need of reconstruction funds," said Eric LeCompte, Executive Director of the religious development organization Jubilee USA. "Debt relief is a crucial part of aid for islands affected by hurricanes." 

Churches and Temples across the United States are participating in prayers and actions for hurricane victims a part of Jubilee USA's "Jubilee Weekend."

Read more about Jubilee Weekend.

Hurricane Maria Slams Dominica and Heads Towards Puerto Rico

By Abby Wilhelm

Caribbean islands recovering from Hurricane Irma, now confront Hurricane Maria. According to initial reports, Hurricane Maria leveled parts of the island of Dominica. As of Tuesday morning, the Category 5 storm heads towards Puerto Rico and the US Virgin Islands. At a high-level event at the United Nations General Assembly, Jubilee USA's Executive Director Eric LeCompte called for a debt payment delay for hurricane-struck islands.

"A quick way to get rebuilding aid for islands affected by hurricanes is to temporarily stop debt payments," said LeCompte, Jubilee USA's Executive Director who serves on United Nation expert groups that focus on debt. "If the International Monetary Fund delays debt payments, it would immediately free up millions of dollars for islands trying to recover."

Last week, the Catholic Bishop of Dominica sent a letter to the International Monetary Fund (IMF) asking for debt relief for islands recovering from disasters. As president of a conference of Caribbean Catholic Bishops, Gabriel Malzaire had called for relief for other Caribbean islands, like Antigua and Barbuda that were hit hard by Hurricane Irma. The Bishop's letter is now relevant for Dominica as it seeks funds to recover.

"Islands like Dominica and Antigua and Barbuda need immediate financing," continued LeCompte. "In addition to delaying debt payments, islands need aid in the form of grants instead of loans."

As the UN General Assembly debate begins, Eric LeCompte spoke at a high-level side event on financing development. LeCompte spoke about improving global debt, tax, trade and transparency policies to address poverty. The event was organized by the government of France and the International Leading Group on Social and Solidarity Economy.

Trump Calls for Puerto Rico's Debt to be "Wiped Out"

By Abby Wilhelm

In an interview with Fox News on Tuesday, President Trump called for Puerto Rico's debt to be wiped out. "They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out. You're going to say goodbye to that, I don't know if it's Goldman Sachs, but whoever it is you can wave goodbye to that," Trump said.‎

"Puerto Rico can't recover with the debt it has," said Eric LeCompte, Executive Director of the religious development organization Jubilee USA. LeCompte worked on emergency Puerto Rico debt crisis legislation that Congress passed last year. "Puerto Rico was already undergoing a bankruptcy process that was going to substantially cut the island's debt. Now that bankruptcy process needs to access the hurricane damage and cancel even more of the debt."

Just yesterday, religious leaders from Puerto Rico and the US Virgin islands issued a statement calling for aid, debt relief and measures to end child poverty. The statement was signed by San Juan's Catholic Archbishop, Roberto González Nieves, St. Thomas' Catholic Bishop Herbert A. Bevard and Evangelical Bible Society Head Reverend Heriberto Martínez. Puerto Rico and the US Virgin Islands, both US territories, were wrestling with financial crisis and high child poverty rates before the Hurricanes Irma and Maria struck.

"The US Virgin islands were also severely damaged from the hurricanes," continued LeCompte. "They too need debt forgiveness and aid to help recover. Unfortunately, unlike Puerto Rico, the Virgin Islands doesn't have a bankruptcy process to cut the debt."