Pope Francis Urges Debt Cancelation for 2025 Jubilee

Pope calls for global economic justice and new financial framework
By Newser.AI Read our AI policy
Posted Dec 12, 2024 10:10 AM CST
Pope Francis Urges Debt Cancelation for 2025 Jubilee
Pope Francis attends his weekly general audience in the Paul VI Hall, at the Vatican, Wednesday, Dec. 11, 2024.   (AP Photo/Alessandra Tarantino)

Pope Francis has issued an urgent appeal to wealthier nations to drastically reduce or eliminate poorer countries' debts, framing it as a question of justice. As the Vatican's 2025 Jubilee Year approaches, the Pope emphasized the need to prevent debt from "threatening the future of many nations." He urged for the establishment of a new financial structure to ensure that solutions extend beyond "an isolated act of charity" and do not perpetuate cycles of debt.

The pontiff cited St. John Paul II's warnings from the Jubilee Year 2000 and advocated for a framework driven by "solidarity and harmony between people." The Argentine pope has consistently advocated for debt relief, particularly benefiting the less affluent regions in the southern hemisphere. The 2025 Jubilee Year, a ceremonial event occurring every 25 years, will commence on Christmas Eve with the opening of the Holy Door at St. Peter's Basilica. It is set to attract approximately 32 million pilgrims to Rome. (This story was generated by Newser's AI chatbot. Source: the AP)

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