Labor/Economics/Business

Treasury Secretary Yellen Encourages Tax and Aid Deals to Confront Pandemic

Improving tax collection raises needed resources for countries, noted Treasury Secretary Yellen at a virtual G7 finance ministers meeting. Yellen praised a July G20 agreement to curb corporate tax avoidance. The agreement is supported by 134 countries.

IMF Approves $650 Billion in Emergency Currency to Combat Pandemic

The IMF Board of Governors convened a special virtual session for final approval of US $650 billion in emergency reserve currency or Special Drawing Rights (SDRs). Countries will receive their share of Special Drawing Rights on August 23rd.

IMF Extends Zero-Interest Lending to Poor Countries

The IMF announced increased zero-interest lending for poor countries. IMF member countries further committed to investigate additional options to extend pandemic aid through 2029, including the selling of IMF gold reserves.

“Poor countries need more support to confront the health and economic devastation caused by the coronavirus,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network. "While the IMF action is helpful, it still falls short of delivering the support developing countries need." 

Jubilee USA Statement on G20 Finance Ministers Meeting and Communiqué

G20 finance ministers and central bank governors met in Venice, Italy, on COVID response, economic recovery, vaccines, debt relief and global tax agreements on July 9-10, 2021.

Eric LeCompte, Executive Director of the religious development organization Jubilee USA Network and a United Nations finance expert, releases the following statement on the G20 finance ministers meeting and communiqué:

“While the G20 is making critical progress in many COVID response areas, vaccine distribution and production is not moving quickly enough.

G7 COVID Summit: Vaccines, Tax, Debt, Climate, Trade

The presidents and prime ministers of 7 of the world's wealthiest countries gather in the United Kingdom to meet on the response to the economic and health crises spurred by the coronavirus. Hosted in the seaside town of Cornwall this weekend, the G7 Summit focuses on global vaccine distribution and tax, debt, aid, trade and climate policies.

Eyes on Amazon protest visits stockholder Blackrock, demands responsible shareholder votes

On the 24th of May (two days before Amazon's annual general meeting), protesters showed up at major Amazon stockholder Blackrock. They brought with them a list of socially responsible votes on Amazon's corporate policies, and attempted to deliver it to Blackrock. Bike cops refused to let protesters in the building but eventually let them post the demands on the wall, possibly to avoid escalation.

Video-calling out Amazon at investor Blackrock 2 min 30 sec

MPD protecting their corporate masters from the community

IMF Proposes $50 Billion Vaccine Plan to End Pandemic and Boost Economy

 

As worldwide COVID cases peak, IMF chief Kristalina Georgieva unveiled a $50 billion proposal to support vaccinations of 60% of the world's population. During a G20 and European Commission summit, Georgieva argued the global vaccine investment would end the pandemic and spur $9 trillion in economic gains by 2025.

Biden Vows Cut to US Emissions as Yellen Commits Full Power of Treasury to Address Climate Change

Financial decisions play a critical role in solving climate change, advocated Treasury Secretary Yellen during a US-hosted climate summit. More than 40 world leaders are attending the two-day virtual gathering convened by President Biden. Biden announced a new US target to halve fossil fuel emissions by 2030 and eliminate them by 2050. 

Jubilee USA Statement on IMF and World Bank Meetings and Development Committee Communiqué

The Development Committee, a ministerial-level consensus building and policymaking body for the World Bank and the IMF, met as part of the Spring IMF and World Bank Meetings.

Eric LeCompte the Executive Director of the religious development organization Jubilee USA, a UN expert who monitors IMF and World Bank meetings, releases the following statement on the meetings and World Bank Development Committee Communiqué:

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