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First with the News

Pope Francis Urges Debt Relief For Poor Countries

"The Jubilee asks to translate this remission of debts on a social level so that no person, no family, no people is crushed by debts. I therefore encourage the rulers of countries with a Christian tradition to set a good example by cancelling or reducing as much as possible the debts of the poorest countries," he stated.

January 2, 2025
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By Enyichukwu Enemanna

Pope Francis has called on wealthy nations to consider reducing or cancelling the debts of poor countries to prevent them from being overwhelmed by financial burdens.

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The Pontiff made this appeal during an address to the faithful in St Peter’s Square as part of the Vatican’s 2025 Jubilee Year celebrations.

“The Jubilee asks to translate this remission of debts on a social level so that no person, no family, no people is crushed by debts. I therefore encourage the rulers of countries with a Christian tradition to set a good example by cancelling or reducing as much as possible the debts of the poorest countries,” he stated.

The growing debt crisis in Africa has been linked to increasing civil unrest in recent months. Protests erupted in Kenya over proposed tax hikes, leading to clashes with police. Similarly, Nigeria witnessed #EndBadGovernance protests in August last year, where citizens expressed frustration over hunger, inflation, and the rising cost of living. Protests also occurred in Uganda, Ghana, and other parts of the continent.

In September, United Nations Secretary-General António Guterres proposed reforms to the global financial system aimed at alleviating Africa’s debt challenges. Speaking at a China-Africa cooperation summit in Beijing, Guterres described the continent’s debt situation as “unsustainable and a recipe for social unrest,” citing inadequate access to debt relief and insufficient funding for essential needs.

Pope Francis also expressed hope for an end to conflicts worldwide in 2025.

“Let us pray for an end to the fighting on all fronts and a decisive move towards peace and reconciliation. I am thinking of the tormented in Ukraine, Gaza, Israel, Myanmar, Kivu, and so many warring peoples,” he said.

During a New Year’s Day mass, the Pope urged Catholics to reject abortion. His comments followed criticism of his remarks on Belgium’s abortion laws during a visit to Brussels in September.

Francis referred to Belgium’s abortion legislation as “homicidal,” prompting Belgian Prime Minister Alexander De Croo to label the remarks as “totally unacceptable” and summon the Vatican’s ambassador to the country.

Tags: Africa’s Debt ProfilePope Francis
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