VATICAN CITY - Pope Francis called on Thursday, December 12, for new international agreements to reduce the debt burden faced by low-income countries and
This is AI generated summarization, which may have errors. For context, always refer to the full article.called on Thursday, December 12, for new international agreements to reduce the debt burden faced by low-income countries and a shift in spending from arms and military equipment to the eradication of global hunger.
Catholic Holy Years, also known as Jubilees, occur normally once every 25 years, and are considered a time of peace, forgiveness and pardon. This one will run through January 6, 2026. The title of the message, which is traditionally sent to world leaders and heads of institutions such as the United Nations, is “Forgive us our trespasses: grant us your peace”.Francis has called repeatedly over his 11-year papacy for more developed nations to forgive the debts faced by low-income countries. In the new message, the Pope said many poorer nations are also facing an “ecological debt” due to the expected impacts of climate change.
A call for direct debt cancellation made by the late Pope John Paul II during the Jubilee year in 2000 sparked a campaign that resulted in $130 billion of debt cancellation between 2000 and 2015.Global debt levels hit a record high of $313 trillion in 2023, with developing economies scaling a fresh peak for the ratio of debt to their gross domestic product, according to a study released earlier this year.
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