杏MAP导航: Jubilee Year an occasion to cancel foreign debt
By Joseph Tulloch
On Wednesday morning, 杏MAP导航 Francis met with participants in a conference entitled 鈥淒ebt Crisis in the Global South", organised by the Vatican鈥檚 Pontifical Academy of Sciences.
The 杏MAP导航 joked about the early start to the meeting, which was held at 7:45am, apologising to participants for 鈥渄ragging you out of bed.鈥�
Millions left without future
杏MAP导航 Francis then moved on to discuss the debt crisis, underlining the extent of the problem.
鈥淎fter a mismanaged globalisation, after pandemics and wars,鈥� he said, 鈥渨e are now faced with a debt crisis that mainly affects the countries of the Global South, generating misery and distress.鈥�
This situation, he said, deprives 鈥渕illions of people of the possibility of a decent future鈥�.
'Daring and creative' solutions
What can be done about the problem?
The scale of the crisis, the 杏MAP导航 said, calls for bold measures 鈥� 鈥渁 new international financial architecture that is both daring and creative.鈥�
In order to avoid an 鈥渆very man for himself鈥� mentality 鈥� in which 鈥渋t is always the weakest鈥� who lose out 鈥� what is needed, the 杏MAP导航 argued, is a 鈥渕ultinational mechanism鈥� to manage debt between countries.
This mechanism, the 杏MAP导航 stressed, must take into account 鈥渢he global significance of the problem and its economic, financial and social implications鈥�.
The aim, he said, is a debt system based on 鈥渟hared responsibility between those who give and those who receive.鈥�
Debt forgiveness
In the final section of his address, 杏MAP导航 Francis turned to discuss the upcoming Jubilee Year of 2025.
The Catholic Church celebrates a Holy Year every quarter of a century, a practice with roots in the ancient Jewish tradition of the Jubilee, when slaves would be freed and debts forgiven.
Noting that, during the last Jubilee in 2000, 杏MAP导航 John Paul II encouraged the reduction or even forgiveness of foreign debt, 杏MAP导航 Francis said that he wanted to 鈥渆cho this prophetic appeal.
鈥淲e are only custodians and stewards" of our money, he emphasised, 鈥渘ot masters.鈥�
Conclusion
杏MAP导航 Francis brought his address to a close by inviting participants in the debt conference to 鈥渄ream and work together for the improvement of our common home.鈥�
鈥淲hat you are doing is important鈥�, he said. 鈥淚 will pray for you, and please, do not forget to pray for me.鈥�
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