Brussels, 5 March 2025
The European Laudato Si’ Alliance (ELSiA) and Caritas Europa co-organised an event to discuss the
Catholic perspective on debt justice and Europe’s role in addressing this global crisis. Participants
expressed their support to the ‘Turn Debt into Hope’ global campaign and reflected on how the EU
can position itself at the 4th Financing for Development Conference in support of global justice.
More than 3.3 billion people live in countries where governments spend more on debt repayments
than on essential services like health or education. How did that happen? How did we get to this
point?
Global South countries have been operating within a global economy where the financial rules have
been fixed unfavourably against them, largely because the rules were not made by them. They keep
paying back enormous debts, with huge interest rates, to some of the wealthiest groups in the
world. All the while being unable to change the rules of the game in the international financial
system, which excludes their voices and fails to represent people on equal terms, while lacking
resources to improve people’s lives in their own countries.
That is why debt is not just a financial issue; it is a moral issue that affects human dignity and global
justice.
“Debt isn’t just a concern for states – civil society has a rightful voice in the process. As civil society
actors, it’s our duty to remind leaders that the EU must uphold its obligations and play its part in
addressing historical injustices. Much of today’s debt stems from colonial legacies and a system
that benefits the wealthiest while burdening the most vulnerable. True justice means restoring
equality, upholding dignity, and ensuring those with the most richness contribute the most. In the
face of growing social and ecological crises, we must challenge the mentality of exploitation and
push for a fairer, more sustainable future.” said Fr. Benoît Willemaers SJ, Secretary for European
Affairs at JESC (Jesuit European Social Centre).
To discuss the moral aspects of the current debt crisis – the worst in history –, and Europe’s role in
this context, the European Laudato Si’ Alliance and Caritas Europa brought together Catholic, faith-based and secular organisations and experts, and raised awareness about the Catholic
perspective on debt justice.
Marking the beginning of the Lent period – a season of reflection and renewal –, the gathering was
a moment for awareness, action and solidarity.
“Debt is not just an economic issue—it’s a structural crisis trapping countries in a cycle where debt
repayments outweigh essential public spending. The EU plays a central role in shaping global debt
mechanisms, yet it continues to promote unequal spaces like the G20 instead of championing truly
inclusive solutions. As civil society, we urge the EU to support fair negotiations at the UN and
ensure Global South countries have a voice in shaping the debt resolution they deserve. With FFD4
as a once-in-a-decade opportunity, now is the time to push for real economic justice.” said Polina
Girshova, Policy and Advocacy Assistant for Debt Justice at Eurodad.
Participants emphasised that unless the international community – and especially the leaders of
wealthier nations – confront power imbalances in the global economic governance, including in
mechanisms to deal with the debt crisis, we are not going to see a difference in the results.
The event also offered the opportunity to mobilise support for the Turn Debt into Hope Campaign
and for participants to sign a global petition in solidarity with millions of people around the world in
their struggle for dignity and hope.
“Let us commit ourselves to remedying the remote causes of injustice, settling unjust and
unpayable debts… ” Pope Francis (Spes non confundit, §16)
Join the global campaign for debt justice, sign the petition and help turn debt into hope:
https://turndebtintohope.caritas.org/
NOTES TO EDITORS:
ELSiA is an alliance of European Catholic not-for-profit organisations and European Bishops
Conferences who share objectives of social justice, integral human development and the care for
our common home. Founded in 2019, it is composed of 7 members: Caritas Europa, CIDSE,
COMECE, Don Bosco International, JESC, Justice and Peace Europe, and Laudato Si’ Movement.
MEDIA CONTACTS:
Giorgio Gotra, ELSiA Coordinator, coordinatorelsia(at)elsialliance.com
Annia Klein, CIDSE Communications Officer, klein(at)cidse.org
Chiara Marconato, Caritas Europa Media Officer, cmarconato(at)caritas.eu