As debt expert Kiama Kaara tells us: "Debt crisis is not a purely economic issue. It’s every collapsed building, every collapsed road, every child who dies in the hospital because they could not get their medication.”
Often, countries have repaid their original debt several times over, but the debt will never be cleared because the interest on it keeps growing.
The Bible teaches us that money lending is about accompanying vulnerable people, not about profiteering. But in our current global system, powerful banks make huge profits from the vulnerability of poorer nations.
Pope Francis spoke directly about this, saying, "I have repeatedly stated that foreign debt has become a means of control whereby certain governments and private financial institutions of the richer countries unscrupulously and indiscriminately exploit the human and natural resources of poorer countries….In the spirit of this Jubilee Year, I urge the international community to work towards forgiving foreign debt…This is an appeal for solidarity, but above all for justice.”
Here are five key things you can do to honour Pope Francis' legacy and respond to his call: