Holy See: Debt relief for poorer nations is a ‘moral imperative’

By CathNews New Zealand

July 22nd, 2025

Archbishop Gabriele Caccia, permanent observer of the Holy See to the United Nations, in 2024. (CNS photo/Permanent Observer Mission of the Holy See to the United Nations)

The Holy See’s diplomatic mission to the United Nations has called for debt relief for developing countries to help their economies and alleviate poverty. Source: Vatican News.

Archbishop Gabriele Caccia, the Holy See’s Permanent Observer to the United Nations in New York, addressed two UN panels on July 16 concerning the implementation of the UN’s Sustainable Development Goals. The archbishop affirmed that the international community bears a “moral and political responsibility” to help countries achieve sustainable development.

“The persistent and widespread reality of poverty,” said Archbishop Caccia, “continues to afflict millions of people, denying them material well-being and undermining their God-given dignity, while stifling their integral human development.”

The Holy See, he added, believes firmly that the international community must remain focused on the goal of eradicating poverty, which he called both a “moral imperative” and an economic exercise.

Many developing countries struggle with the burden of repaying unbearable sovereign debts, he said, noting that 3.4 billion people live in nations that spend more on interest payments than on healthcare and education combined.

“Providing debt relief is not an act of generosity,” he said, “but a necessary step towards creating the fiscal space countries need in order to invest in integral development.”

Archbishop Caccia therefore called for “immediate debt relief, including cancellation, and debt restructuring”, as well as access to grants to countries struggling with unsustainable debt levels.

Referring to small island developing states, he said their debt burdens remain one of the biggest obstacles to the world achieving the UN’s 2030 Sustainable Development Goals.

“Debt relief alone is not a panacea,” said Archbishop Caccia. “However, it has the potential to transform the development prospects of [small island developing states] by providing them with the fiscal space to invest in essential pillars, such as infrastructure, climate adaptation, health systems and education.”

FULL STORY

Holy See: Debt relief for developing nations a ‘moral imperative’ (By Devin Watkins/Vatican News)