The world's poorest countries owe up to 200 billion dollars in foreign debt.
In June, in preparation for next year's Jubilee in Rome, Pope Francis met with experts and finance ministers to address the debt crisis in the poorest countries worldwide. During the meeting, the Pope called it immoral to demand debt from these states.
POPE FRANCIS
In order to try to break the debt-financing cycle, it is necessary to create a multinational mechanism, based on the solidarity and harmony of peoples, that takes into account the global nature of the problem and its economic, financial and social implications.
Some African bishops issued a statement after a meeting in July. In it, they join their voices to Pope Francis', asking for debt forgiveness.
In their statement, they ask the UN, the International Monetary Fund as well as the countries that make up the G20 and G7 to pardon existing debts.
Other African religious leaders also joined these bishops at their meeting in July.
In 2024 alone, the African continent will spend 90 billion dollars paying off its public debt. This forces African states to choose between paying off debts or providing the minimum essential services to their citizens.
This is not the first time such an appeal has been made. During John Paul II's pontificate and the Jubilee of 2000, international financial institutions provided $130 billion to help alleviate the external debt of developing countries.
AM
TR: KG
