Pope Francis’ Call for Debt Relief: A Global Impact
Eric LeCompte, the Executive Director of Jubilee USA Network, recently sat down with Vatican News to discuss how Pope Francis’ call for debt relief is making a significant impact in over 160 countries worldwide.
LeCompte leads a development coalition of more than 750 religious groups and organizations globally, including the founders of Pope Saint John Paul II. This coalition works closely with the Catholic Church and Bishops’ Conferences to implement the Church’s vision for Jubilee, focusing on debt relief, debt cancellation, and creating an inclusive economy for all.
With over 25 years of experience advocating for policies to alleviate poverty, address global conflict, and promote human rights, LeCompte has been a key figure in leading efforts for economic and climate policies at the United Nations General Assembly. He has also advised on global sovereign bankruptcy structures and is a member of expert UN working groups.
As global debts soar to record highs, reaching 313 trillion dollars in 2023, Pope Francis has been a vocal advocate for debt relief. In his recent World Peace Day Message, the Pope urged nations to forgive developing nations’ debts, abolish the death penalty, and redirect arms spending towards combating hunger and climate change. Similarly, in his first Angelus of 2025, Pope Francis renewed his call for debt relief for the world’s poorest nations.
Interview Highlights with Eric LeCompte
Q. How is Pope Francis’ call for debt relief manifesting itself?
LeCompte highlights Pope Francis’ leadership in addressing economic issues like debt and the need for debt relief to combat poverty, inequality, and climate challenges. The call for debt relief has been translated into action through campaigns launched in 160 countries for a five-year period, with the goal of implementing concrete changes.
What are some practical steps needed to achieve debt relief?
LeCompte emphasizes the importance of debt relief policies that have resulted in significant impacts, such as $130 billion in debt relief leading to improved access to education, healthcare, and poverty reduction programs globally. He advocates for the creation of an international bankruptcy-like process to address deep financial crises and protect the interests of both creditors and debtors.
Is debt relief a concrete effort by the Catholic Church to protect the vulnerable?
LeCompte believes that the Catholic Church’s advocacy for debt relief aligns with its mission to protect the vulnerable and address inherent inequalities in the global financial system. By working with other faith groups and advocating for meaningful changes, the Church can play a crucial role in ensuring a fair and just financial system that benefits all individuals.
Overall, Pope Francis’ call for debt relief is not just a call to action but a movement towards creating a more equitable and inclusive global economy that prioritizes the well-being of all individuals, especially the most vulnerable. The Catholic Church’s involvement in this initiative underscores its commitment to social justice and the promotion of human dignity worldwide.
