Pope Francis Calls for Debt Cancellation Ahead of 2025 Jubilee Year

Pope Francis urged wealthy nations to substantially reduce or cancel debt as part of justice for the 2025 Jubilee Year. Citing St. John Paul II, he emphasized the need for a new financial framework centered on solidarity, rather than perpetuating cycles of financing and indebtedness.

Pope Francis has issued a call to wealthy countries and global institutions for substantial debt reduction or outright cancellation as a question of justice for the Vatican's upcoming 2025 Jubilee Year.

In a message promoting world peace, the pontiff referenced St. John Paul II's warnings during the Jubilee Year 2000 about the threats posed by debt on future generations. He pointed out the inability of many nations to repay their debts and called for a renewed financial system rooted in solidarity and harmony, warning against solutions that only perpetuate debt cycles.

The Jubilee Year offers a unique opportunity for such action, according to the pope. The 2025 event is set to begin on Christmas Eve with the opening of the Holy Door at St. Peter's Basilica and is expected to draw approximately 32 million pilgrims to Rome.

(With inputs from agencies.)