Caritas Internationalis and the Vatican’s Dicastery for Promoting Integral Human Development unite in their call for reforms for an “unjust global system” that makes poor nations even poorer due to debt.
In an online town hall webinar hosted by the two organizations, guest panelist Alessandra Smerilli highlighted the “commercial imbalance” between countries in the global North and South.
“The poorest countries are paying twice… Through debt obligations and again through environmental degradation and loss of futures,” she lamented.
The nun, an economist who serves as secretary of the Dicastery for Promoting Integral Human Development, said that this alarming gap can never be ignored by the Church and the wider society anymore.
“Addressing debt and sustainability is not just a financial issue [but] it has a moral, spiritual imperative,” she said.
Also present during the webinar is Archbishop Gabriele Giordano Caccia, permanent observer of the Holy See to the United Nations.
The prelate emphasized this year’s essence as a Jubilee Year, which he described as “a time for restoration when debts are forgiven.”
“In our time, this tradition speaks directly to the lived experience of millions across the globe,” he explained.
With more than 50 nations currently in or at high risk of bankruptcy, Archbishop Caccia expressed hope for a “renewed vision of multilateralism” to combat this “profound failure of our global economic system.”
“Together we can turn the jubilee vision of hope into a tangible action, ensuring that no one is left behind,” he said.
The town hall webinar on May 28 aimed to raise awareness of Pope Francis’ plea in his papal bull for the jubilee year, Spes non Confundit, wherein he urges more affluent nations to “forgive the debts of countries that will never be able to repay them.”
The online gathering also highlighted Pope Leo XIV’s desire to dismantle economic structures pushing societies and the entire planet deeper into poverty.
Caritas Internationalis is the Vatican's charity arm. It is the second-largest humanitarian network in the world.
Radio Veritas Asia (RVA), a media platform of the Catholic Church, aims to share Christ. RVA started in 1969 as a continental Catholic radio station to serve Asian countries in their respective local language, thus earning the tag “the Voice of Asian Christianity.” Responding to the emerging context, RVA embraced media platforms to connect with the global Asian audience via its 21 language websites and various social media platforms.
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