Almost six months have passed since Pope Francis made this appeal on Christmas Day. Just hours earlier, on Christmas Eve, he had opened the Holy Door of St. Peter’s Basilica, officially beginning the Jubilee.
POPE FRANCIS
May the Jubilee be an opportunity to forgive debts, especially those that affect the poorest countries.
However, the situation does not seem to be improving, nor are there any signs suggesting it will move in that direction.
This fact is what the World Bank pointed out earlier this month.
AYHAN KOSE, World Bank
Developing economies are facing a triple threat – high debt, sluggish trade, and mounting uncertainty. This year, 60 per cent of these economies are going to see weaker growth. We are expecting growth to be around 3.8 per cent this year, inching up to 3.9 per cent over the next two years. These growth rates are well below the pace necessary to meet development goals.
And the data from recent years is even more concerning. For example: record levels of external debt, which according to the UN, now exceeds 20% of annual public revenue in 17 developing countries.
All this coincides with the humanitarian situation caused by poverty and war, which is also reaching record levels: the number of displaced people worldwide has surpassed 120 million.
This is why both the Vatican and humanitarian institutions of the Church are drawing attention to the problems that poverty is causing—not only in the most vulnerable countries. For instance, Caritas Europa has reported that more than 93 million people are at risk of poverty and social exclusion.
JRB
