Vatican calls for debt cancellation of small island states

The Holy See has urged developed countries to cancel the debt of small island states, which are on the front lines of climate change, Vatican News announced Wednesday.

“Debt cancellation is not just a matter of economic policy or development,” Vatican representative Robert Murphy told a four-day conference on small island developing states (SIDS). .

He…

The Holy See has urged developed countries to cancel the debt of small island states, which are on the front lines of climate change, Vatican News announced Wednesday.

“Debt cancellation is not just a matter of economic policy or development,” Vatican representative Robert Murphy told a four-day conference on small island developing states (SIDS). .

It is “a moral imperative anchored in the principles of justice and solidarity,” he said on Tuesday.

SIDS are extremely vulnerable to climate change, but not rich enough to stop it on their own.

“The growing debt burden faced by SIDS is becoming increasingly unsustainable,” Murphy said at the summit in the Caribbean nation of Antigua and Barbuda, according to Vatican News.

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“Furthermore, debt perpetuates a cycle of dependency that hampers SIDS’ ability to address pressing issues such as poverty eradication and climate change,” he told the 39-state conference, whose population is approximately 65 million inhabitants.

Pope Francis earlier this month called on rich countries to cancel the debts of low-income countries, not out of “generosity” but “justice.”

Francis, who has made environmental protection a key theme of his pontificate, said wealthy nations owe an “ecological debt” due to “the disproportionate use of natural resources by some countries over long periods of time.”

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