Cut the debt of poor nations, Pope tells IMF, World Bank By Reuters

by akoloy



© Reuters. Pope Francis holds weekly viewers

VATICAN CITY (Reuters) – Pope Francis has informed world monetary chiefs that poor nations hit by the financial influence of the coronavirus have to have their debt burden diminished and be given a larger say in world resolution making.

In a letter to the individuals of the International Monetary Fund and World Bank’s annual spring assembly, the pope stated the pandemic had pressured the world to come back to phrases with interrelated socio-economic, ecological, and political crises.

“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 stated within the letter dated April 4.

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

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