Pope Francis Advocates for Debt Relief in Global South

By Joseph Tulloch

During a Vatican conference on debt in the Global South, Pope Francis highlighted the urgency of the situation and called for bold solutions. The upcoming Jubilee Year in 2025 presents an opportunity to address the debt crisis affecting poorer countries.

Addressing the Crisis

Pope Francis met with participants in a conference titled “Debt Crisis in the Global South” organized by the Vatican’s Pontifical Academy of Sciences. He acknowledged the severity of the debt crisis plaguing many countries in the Global South, leading to widespread poverty and suffering.

Calls for Change

The Pope emphasized the need for a new international financial system that promotes shared responsibility in managing debt. He warned against a selfish mentality where the weakest nations bear the brunt of the crisis.

Jubilee Year and Debt Forgiveness

Pope Francis referenced the upcoming Jubilee Year of 2025 as a chance to follow the tradition of debt forgiveness. He echoed Pope John Paul II’s call for reducing or forgiving foreign debt during the Jubilee Year of 2000, emphasizing the importance of viewing money as a trust rather than a possession.

A Call to Action

In conclusion, Pope Francis urged participants in the conference to collaborate for the betterment of society. He expressed his support for their efforts and requested their prayers in return.