By contributor By Associated Press Reporter
Pope Francis has called on wealthy countries and institutions to substantially reduce, if not outright cancel, debt as a matter of justice on the occasion of the Vatican’s 2025 Jubilee Year.
In a message for world peace, Francis referred to St John Paul II’s admonition in Jubilee Year 2000 that debt “threatens the future of many nations”.
He noted that many countries “are in no condition to repay the amount they owe”, and called for a new financial framework “lest this prove merely an isolated act of charity that simply reboots the vicious cycle of financing and indebtedness”.
A new framework should be based on “solidarity and harmony between…
