Loading
US bishops applaud debt cancellation of 17 countries

.- The United States Conference of Catholic Bishops (USCCB) welcomed the decision by the World Bank Executive Board to approve debt cancellation for an initial 17 countries, effective July 1, as well as the agreement to cancel poor countries’ debt in the least time possible.

Bishop Thomas Wenski, chairman of the bishops’ Committee on International Policy, termed the action by the World Bank Executive Board “a concrete application of Pope John Paul II’s call for the ‘globalization of solidarity.’”

This latest decision by the World Bank flows from the commitment made by the G8 leaders last year in Edinburgh, Scotland. It will cancel 100 percent of 17 impoverished countries’ debts to the International Monetary Fund (IMF), World Bank, and African Development Bank in 2006.

It has been described as a small but significant victory that flows from the sustained interest and advocacy of the Catholic Church and other interested groups.

In a press release issued March 31, the USCCB pointed out that they joined with others to offer an alternative that would grant debt cancellation within two to three months of reaching the completion point, instead of having to wait for over a year.

The USCCB will continue to call for the cancellation of debts for dozens of other impoverished nations and from significant creditors such as the Inter-American Development Bank.


Ads by AdsLiveMedia(What's this?)

* The number of messages that can be online is limited. CNA reserves the right to edit messages for content and tone. Comments and opinions expressed by users do not necessarily reflect the opinions or beliefs of CNA. CNA will not publish comments with abusive language, insults or links to other pages

RESOURCES »

Ads by Google (What's this?)

Featured Videos

The renewal of the Legionaries of Christ
The renewal of the Legionaries of Christ
Presentation of the book "The Pastor"
Synod on the Family October 2014
Preferential option for the poor
God is alive, even in sport
'A forbidden God' named Best Film at the International Catholic Film Festival
Vatican backs a 'Pause for Peace' during World Cup final
The effects of religious violence in Sarajevo 
The origin of Corpus Christi 
Corpus Christi at the Vatican 
Homage to an Indian Cardinal
Train of the Child's Light
New book explaining gestures of the Mass
Encounter between Pope Francis and the Charismatic Renewal in the Spirit Movement.
Religious tensions subside amid Balkan floods
John Paul II Center for Studies on Marriage and Family
Saint John Paul II on cartoon
Syrian Christian refugees
Papal Foundation Pilgrimage
Exorcism or prayer of liberation?
Jul
24

Liturgical Calendar

July 24, 2014

Thursday of the Sixteenth Week in Ordinary Time

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Mt 13:10-17

Gospel
Date
07/24/14
07/23/14
07/20/14

Daily Readings


First Reading:: Jer 2: 1-3, 7-8, 12-13
Gospel:: Mt 13: 10-17

Saint of the Day

St. Charbel Makhlouf »

Saint
Date
07/23/14

Homily of the Day

Mt 13:10-17

Homily
Date
07/24/14
07/23/14
07/21/14

Ads by AdsLiveMedia.com

Ads by AdsLiveMedia.com
     HTML
Text only
Headlines
  

Follow us: