Jubilee USA

For Immediate Release

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Pope Francis and World Leaders Call for Inclusive Economy

WASHINGTON - Pope Francis addressed a small group of Finance Ministers, the head of the IMF and noted economists urging the creation of new global debt and tax policies that can reduce inequality and end poverty.

"Pope Francis asserts that to live in a world with so much wealth, when there is so much poverty, is sinful," stated Eric LeCompte who leads the religious development group Jubilee USA. LeCompte serves on United Nations finance expert groups. "Inequality and extreme poverty are the results of current debt and tax policies that concentrate wealth in too few hands."

The high-level seminar, New Forms of Solidarity Towards fraternal Inclusion, Integration and Innovation Seminar, was organized by the Papal Academy of Social Sciences and held in the historic Casina Pio IV. 

During the event, Kristalina Georgieva who heads the IMF, encouraged curbing tax avoidance and evasion. Nobel Laureate, Joseph Stiglitz and Argentine Minister of Economy, Martin Guzman related the deep need for a global bankruptcy process to prevent financial and debt crises.

"It was encouraging to see growing calls for new mechanisms that can reduce debt, austerity policies and inequality," noted LeCompte who advises Catholic Church officials on poverty, debt and tax policies. "If we had a bankruptcy process in place, we might have avoided the 2008 financial crisis and countries like Argentina probably wouldn't be dealing with a debt crisis."

Read more about the New Forms of Solidarity Towards fraternal Inclusion, Integration and Innovation Seminar.

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Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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