VATICAN CITY — On Thursday, Pope Francis made an appeal to affluent nations and financial institutions to significantly decrease or completely eliminate debt, emphasizing the moral imperative of justice ahead of the Vatican’s Jubilee Year in 2025.

In his message advocating for global peace, the Pope referenced the words of St. John Paul II during the Jubilee Year 2000, where he warned that debt poses a significant threat to the future of numerous countries.

He pointed out that many nations are currently unable to fulfill their financial obligations and advocated for the creation of a new financial framework. According to the Pope, this initiative should not be seen merely as an act of goodwill, but rather as a necessary step to avoid perpetuating a harmful cycle of debt.

Pope Francis highlighted that this new financial structure ought to be founded on “solidarity and harmony among people.” As someone who has consistently championed debt relief for poorer nations, especially in the southern hemisphere, his message aligns with his ongoing mission for social justice.

With the Jubilee Year approaching, the Pope has emphasized its significance as a chance for nations to have their debts forgiven. The Jubilee, held every twenty-five years, will officially commence on Christmas Eve when Pope Francis opens the Holy Door of St. Peter’s Basilica, an event anticipated to attract around 32 million pilgrims to Rome.