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In his first Angelus prayer during the Jubilee Year of Hope, Pope Francis renewed a call for the cancellation of debts, particularly in the Third World.
During the Angelus address on the feast of St. Stephen, the day after Christmas, Francis invited support for a campaign led by the international Catholic charity Caritas, "Transforming debt into hope."
The campaign, Pope Francis said, seeks "to relieve countries oppressed by unsustainable debts and promote development.”
Prior to Mass on Christmas Eve, Pope Francis inaugurated the Jubilee 2025 by opening the Holy Door of St. Peter's Basilica. The holy year will run until the feast of the Epiphany, January 6, 2026.
The once-every-quarter-century holy year is based on the Law of Moses, which established a "year of grace" every 50 years during which all slaves were freed, all debts were forgiven, and the land was left to rest.
"The issue of debt is linked to that of peace and the black market in arms," the Pope said on Thursday. "Let us work for disarmament, against hunger, against disease, against child labor, and let us pray for peace throughout the world."
Justice and reform
According to the website of Caritas Internationalis, the campaign is inspired by Pope Francis’ message of solidarity.
“This global call advocates for debt justice and transformative financial reforms to bring renewed hope to communities burdened by unsustainable debt,” Caritas says.
“The world is facing an urgent yet silent debt crisis,” the charity declared. “Over 100 countries are struggling with unjust and unsustainable public debt, 65% of which is held by private lenders, slowing down, if not completely hampering, development and climate action. For low-income nations, 60% are nearing debt distress, limiting their ability to invest in people’s futures. As debt repayments outweigh spending on healthcare and education, 3.3 billion people are being denied vital services, driving poverty and inequality even further.”
Caritas is hoping to gather 10 million signatures on a petition that it will use to persuade world leaders and creditors to alleviate debt.
“In the spirit of the Jubilee year, we call on people, groups, schools, congregations and organizations to demand debt justice by signing our #TurnDebtIntoHope petition to send a clear, united message to global leaders, creditors and decision-makers to act with courage and compassion,” Caritas states. “This global petition carries a consistent call for debt justice while recognizing the unique realities of regional, national and local communities.”
