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United Nations Votes on Principles to Prevent Debt Crises


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United Nations Votes on Principles to Prevent Debt Crises

Jubilee USA

WASHINGTON - The United Nations General Assembly will likely vote in favor today on principles to guide economies facing financial distress. A UN committee approved the principles this summer as part of broader UN efforts to create a global bankruptcy process for countries.

"The United Nations is acting because it sees how countries are negatively impacted by debt crises," said Eric LeCompte, executive director of Jubilee USA Network, a religious development coalition. LeCompte advised the UN on the principles.

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