Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
A team of economic experts convened by the Vatican has called for the forgiveness of debt owed by poor and middle-income countries, as the Catholic Church marks its first Jubilee Year of the century.
The Catholic Church’s Jubilee years—celebrated every 25 years—draw inspiration from the biblical Jewish Jubilee, observed every 50 years, when debts were forgiven, slaves freed, and leased land returned to its original owners. The Church now hopes that today’s multilateral, bilateral, and commercial lenders will mirror this spirit by extending similar relief to poor countries.
