Categories: World News

Pope Steps Up Call For Poor Country Debt Cancellation

This photo taken and handout on August 26, 2020 by the Vatican Media shows Pope Francis speak during a live-streamed weekly private audience from the library of the apostolic palace in the Vatican during the COVID-19 coronavirus pandemic. Handout / VATICAN MEDIA / AFP.

 

Pope Francis renewed a call on Tuesday for the cancellation of debt owed by poor countries in the face of the coronavirus pandemic, saying it was time for restorative justice.

The pope is preparing for an audience with the public on Wednesday, his first since the pandemic hit Italy nearly six months ago.

“I repeat my call for the cancellation of the debt of the most vulnerable countries, in recognition of the severe impact of the medical, social and economic crises they face as a result of Covid-19,” the Roman Catholic Church’s highest official said.

“We also need to ensure that the recovery packages being developed and deployed at global, regional and national levels must be regeneration packages.

“It is a time for restorative justice.”

In April, the Argentinian-born pontiff called for debt to be reduced or cancelled in a message from an empty Saint Peter’s Basilica.

On Tuesday he said: “Policy, legislation and investment must be focused on the common good and guarantee that global social and environmental goals are met.”

The World Bank warned last month that coronavirus may have driven as many as 100 million people into extreme poverty.

The situation made it “imperative” that creditors reduce the amount of debt held by poor countries, the Washington-based institution’s president David Malpass warned.

Advanced economies in the Group of 20 have already committed to suspending debt payments from the poorest nations until the end of the year.

There is growing support for extending that moratorium into next year amid a pandemic that has already killed more than 840,000 people and registered 25.2 million cases globally.

AFP

Anthonia Orji

Disqus Comments Loading...
Share
Published by
Anthonia Orji

Recent Posts

Soldiers’ Death: Wanted Delta Monarch Turns Self In

Before he turned himself in to the police, the monarch spoke to journalists, insisting on…

1 hour ago

45 Killed As Bus Plunges Off South Africa Bridge

The vehicle had been heading from neighbouring Botswana to Moria in the north of the…

1 hour ago

CBN Pegs Minimum Capital Base For Banks At ₦500bn 

The apex bank said the new minimum capital base for commercial banks with national authorisation…

3 hours ago

Soldiers’ Killing Oil-Related, DSS Should Lead Probe — Urhobo Leader

The Urhobo leader called for an independent probe into the circumstances that led to the…

3 hours ago

Tyrants Won’t Become Leaders In Parliamentary Democracy — Utomi 

The thought leader noted that thriving democracies in the world practice parliamentary democracy.

4 hours ago

Tinubu Appoints Abdullahi Bello As CCB Chairman 

By the presidential pronouncement, Abdullahi Bello replaces Aliyu Kankia, who has been the acting Chairman…

4 hours ago