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The Pope and President Obama Discuss Common Commitment to Eradicate Trafficking March 27th, 2014
The Vatican Press Office released a statement regarding Thursday morning’s meeting between Pope Francis and U.S President Barack Obama. The statement notes that the two leaders discussed “current international themes” and expressed the hope that “in areas of conflict there would be respect for humanitarian and international law and a negotiated solution between the parties involved.”
The statement goes on to say that in the context of bilateral relations between the U.S. and the Holy See, the Pope and the President discussed “questions of particular relevance for the Church in that country, such as the exercise of the rights to religious freedom, life and conscientious objection, as well as the issue of immigration reform.”
Finally the statement notes that Pope Francis and President Obama spoke of a “common commitment to the eradication of human trafficking. Text from the Vatican Radio website.
Missionary Oblates Join Supreme Court Filing in Argentina/NML Capital Case March 25th, 2014
Jubilee USA Network, a religious anti-poverty coalition, along with 78 other religious and development groups filed with the US Supreme Court in the case between Argentina and NML Capital. The Amicus Curiae brief takes the side of Argentina because the precedent of the case impacts predatory behavior on vulnerable populations. The friend-of-the-court brief argues that the case will have a detrimental impact on the poor, undo bipartisan United States debt policy and cause global financial instability. Filers joining Jubilee USA include: American Jewish World Service, Church World Service, Action Aid USA, numerous synagogues and churches across the US and a large number of Catholic religious orders of nuns and priests, including the Missionary Oblates. Read the full list of the 79 groups and Jubilee USA’s Amicus Curiae.
“At the end of the day, this case is about a precedent that could expose developing economies to extreme predatory behavior,” noted Kent Spriggs the attorney representing the 79 groups “The Supreme Court’s decision will affirm or harm current bipartisan US debt policy.”
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Broad-Based Coalition of Policy Experts Urges Congress to Pass IMF Reforms March 11th, 2014
Ukraine Economy and US Leadership at Stake
190 policy experts, business and academic leaders, and former Senate-confirmed appointees who had oversight responsibilities for organizations like the International Monetary Fund (IMF) and World Bank yesterday delivered a unified message to Congress: promptly enact IMF quota reform legislation. Fr. Seamus Finn, OMI signed the letter on behalf of the Missionary Oblates of Mary Immaculate. The Oblates have long supported New Rules for Global Finance, which works for fundamental reforms at the IMF.
The broad-based bipartisan letter to Speaker Boehner and Majority Leader Reid comes at a time when Congress is considering a $1 billion bilateral emergency assistance package for Ukraine to help the country stabilize its economy during its crisis with Russia. Senate Foreign Relations Committee Chairman Robert Menendez (D-NJ) and Ranking Member Bob Corker (R-TN) displayed the foresight and joint leadership to respond strongly to the Ukraine crisis by introducing the Ukraine relief bill, which includes the IMF quota reform legislation. Ukraine is also seeking IMF assistance directly.
Treasury Under Secretaries Tim Adams, David McCormick, David Mulford, and Jeffrey Shafer, and five IMF Executive Directors that served under Republican Administrations, among other former senior government officials, support the IMF reform legislation. “The IMF has played a crucial role in the global approach to recent financial crises and in navigating the world economy through severe threats. While the United States is on a path to recovery, threats remain…and the IMF has been called upon to support reform in Ukraine. In times like these, a financially strengthened and reformed IMF is in the U.S. interest,” notes the letter.
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Stations of the Forest March 10th, 2014
We would like to thank the Columban Fathers for the powerful Stations of the Forest video. It is a compelling narrative of the destruction of the forest that has ruined ecosystems from the Philippines to Brazil – a destruction that imperils the world.
Following the format of The Stations of the Cross this prayerful resource laments the stages in the death of part of God’s Creation. It incorporates issues related to rainforest destruction: extractive industries, loss of biodiversity and climate change.
A Booklet accompanies the DVD, providing the script, an agenda for meetings, a reflection on the Stations, and prayers. (download booklet here)
Download – The Grace of Forests Lenten resource
Predatory Hedge Funds and Argentina Face Supreme Court Showdown December 17th, 2013
Majority Debt Holders Seek to End Standoff between Argentina and Holdouts
Argentina is expected to appeal to the US Supreme Court by mid-February in response to a US 2nd Circuit Court ruling ordering the country to pay $1.33 billion to predatory hedge funds. The precedent the case sets will hurt poor countries in financial distress and could allow a small group of hedge funds to target assets that benefit vulnerable populations. At the same time, debt holders who restructured their debt with Argentina have hired lawyers to help negotiate the dispute between holdout hedge funds and Argentina. Nearly 93% of debt holders restructured their debt with Argentina after the 2001 default. The majority of bondholders are concerned that their settlements could be disrupted if hedge funds win the final ruling.
“We agree with the concerns of the restructured bondholders,” said Eric LeCompte, Executive Director of Jubilee USA Network, a faith-based antipoverty organization. “We join the IMF, World Bank and White House in denouncing this extreme hedge fund behavior that takes advantage of the world’s poorest people.”
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