- Jul 8, 2020
The Vatican’s representative to the UN in Geneva says coordinated action by the international community is of “utmost importance,” as developing countries are already struggling under unsustainable debt burdens or because they are too poor to tackle the impact of the Covid-19 crisis.
Advocates for debt relief for the world’s poorest countries are calling on international policymakers to cancel debt payments and expand debt relief for developing nations to bolster health care and protect vulnerable people and workers during the coronavirus pandemic.
As Africa struggles with the COVID-19 coronavirus pandemic, the continent’s governments will have to make hard choices: Keep servicing its debts and compromise the lives of their people or stop debt repayments to redirect resources for emergency response.
Two leading proponents of debt relief for developing countries urged the White House to lead the call for a moratorium on debt payments for poor nations so they can devote funds to fight the COVID-19 pandemic.
“Could the coronavirus-19 crisis lead to a jubilee?” Filipino Cardinal Luis Antonio Tagle wondered out loud during a Mass livestreamed from the Pontifical Philippine College in Rome.
Speaking at a summit in Rome of some of the world’s most powerful financial officials, Pope Francis said the fact that five million children under five will die this year due to extreme poverty is something that should motivate the world to act.