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“In this Jubilee year 2025, a year of both material and spiritual liberation, Pope Francis has encouraged us all to be ‘Pilgrims of Hope’ and in doing so address one of the most urgent issues which face us, that of the acute global debt crisis,” the letter states. “As faith leaders, we are deeply troubled at the impact this current debt crisis is having on the lives of the poorest and most vulnerable across the world.”
The letter calls on G20 finance ministers to establish a fair and effective debt cancellation framework that reduces unsustainable payments, pass legislation ensuring private lenders contribute to debt relief and suspend payments during negotiations, implement reforms of International Financial Institutions to prioritize human and environmental rights in debt sustainability assessments, and support the creation of a UN Debt Convention to establish fair rules for resolving debt crises, responsible lending, and a global public debt registry.
The WCC’s engagement in this initiative aligns with its longstanding commitment to economic justice and sustainability, particularly through its Turn Debt into Hope campaign.
Athena Peralta, director of the WCC Commission on Climate Justice and Sustainable Development, underscored the urgency of debt justice: “Debt justice is climate justice. As faith communities, we stand in solidarity with indebted nations struggling to protect their people and planet. The WCC’s Turn Debt into Hope campaign urges world leaders to act now—cancelling unjust debt is a step toward a just and sustainable future.”
The WCC, alongside global faith networks, calls on governments, financial institutions, and civil society to support debt cancellation efforts through advocacy and policy reforms. Addressing the debt crisis is not just an economic necessity but a moral imperative to uphold dignity, equity, and the wellbeing of future generations.
