Vatican backs report calling for financial reforms to alleviate global debt crisis

[Michie]

The Vatican has endorsed a report calling for reforms to alleviate the global debt crisis affecting billions of people in developing countries.

The document, titled “The Jubilee Report: A Blueprint for Tackling the Debt and Development Crises and Creating the Financial Foundations for a Sustainable People-Centered Global Economy,” was presented at the Vatican’s Pontifical Academy of Social Sciences on June 20 as one of the main initiatives of the 2025 Jubilee Year of Hope.

Supported by Pope Leo XIV, the publication is the work of the Jubilee Commission created by Pope Francis in June 2024 in order to find a way to carry out sovereign debt restructuring based on ethical principles. Thirty international economic experts were on the commission, including Nobel laureate Joseph Stiglitz and former Argentine Economy Minister Martín Guzmán.

$97 trillion in global public debt​

Continued below.

Vatican backs report calling for reforms to alleviate global debt crisis

The document was presented at the Vatican’s Pontifical Academy of Social Sciences on June 20 as one of the main initiatives of the 2025 Jubilee Year of Hope.

www.catholicnewsagency.com

 

[Gregory Thompson]

The global debt is in the trillions, so who is the debt collector? Aliens?

 

[Michie]

The global debt is in the trillions, so who is the debt collector? Aliens?

According to some, yes.