By Nadia Khan, Communications Associate.
Eric LeCompte is quoted in The Tablet on restructuring Ukraine's debt. Read the full article here.
US Catholics express solidarity with Ukraine
By Michael Sean Winters
Eric LeCompte, executive director of JubileeUSA, a Catholic non-profit organisation that seeks to reduce the sovereign debt of developing nations, called on international financial institutions to restructure Ukraine’s estimated $94.7 billion debt. “In terms of reality, Ukraine is going to start defaulting on its various debt payments as soon as this year,” LeCompte said.
LeCompte said that Ukraine has remained current with its debt payments until now, but that the chaos created by the war will make it difficult for the country to meet its obligations. LeCompte indicated that $22 billion of Ukraine’s debt is held by international institutions like the World Bank and International Monetary Fund.
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