Vatican City – On Christmas Eve and Christmas day, Pope Francis begins the Jubilee 2025 Year and opens 5 Jubilee Doors. In June with a special address and recently for the World Day of Peace message, Francis laid out the themes for the Jubilee Year as debt cancellation for developing countries and reforms to the international financial system, including a new international bankruptcy process for countries.
“Most countries are dealing with debt and financial crises,” noted Eric LeCompte the Executive Director of Jubilee USA Network, a United Nations finance expert and an advisor to the Vatican and Catholic Bishops on debt and economic issues. “Pope Francis is calling for global debt relief and changes to the international financial system to protect the poor and our planet.”
This month, the World Bank reported that developing country debt payments reached almost $1 trillion, double the amount they were a decade ago.
Around the world, faith leaders and religious organizations of multiple denominations, together with development groups, plan to lift debt relief as the primary campaign objective in more than 160 countries.
“Historically, debt relief has been the most successful campaign of the Church,” shared LeCompte. "Debt relief and new processes to address poverty are essential for moving forward an economy that serves everyone."
In Church documents and speeches leading up to the beginning of the Jubilee year, Pope Francis consistently appealed to forgive unpayable debts and create rules for addressing debt crises.
Available for interview: Eric LeCompte, Executive Director
Contact: Salma Alokozai, Communications and Outreach Director
[email protected] / (202) 503-4372
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