Cut the debt of poor countries, Pope tells IMF, World Bank | Inquirer News
Close  

Cut the debt of poor countries, Pope tells IMF, World Bank

/ 06:57 PM April 08, 2021
Pope Francis holds weekly audience

Pope Francis holds the weekly general audience at the Vatican, April 7, 2021. Vatican Media/Handout via REUTERS

VATICAN CITY — Pope Francis has told world financial chiefs that poor countries hit by the economic impact of the coronavirus need to have their debt burden reduced and be given a greater say in global decision making.

In a letter to the participants of the International Monetary Fund and World Bank’s annual spring meeting, the pope said the pandemic had forced the world to come to terms with interrelated socio-economic, ecological, and political crises.

ADVERTISEMENT

“The notion of recovery cannot be content to a return to an unequal and unsustainable model of economic and social life, where a tiny minority of the world’s population owns half of its wealth,” the pontiff said in the letter dated April 4.

He said a spirit of global solidarity “demands at the least a significant reduction in the debt burden of the poorest nations, which has been exacerbated by the pandemic”.

FEATURED STORIES

For more news about the novel coronavirus click here.
What you need to know about Coronavirus.
For more information on COVID-19, call the DOH Hotline: (02) 86517800 local 1149/1150.

The Inquirer Foundation supports our healthcare frontliners and is still accepting cash donations to be deposited at Banco de Oro (BDO) current account #007960018860 or donate through PayMaya using this link .

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: coronavirus pandemic, International Monetary Fund (IMF), Pope Francis, World Bank
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.