Turn Debt into Hope: July 18, 2025

Caritas International issued this press release on the Turn Debt into Hope campaign. Church groups have called at the end of a major UN summit for governments to act on commitments to end a debt crisis that is driving poverty worldwide.

Turn Debt into Hope

Church groups have called at the end of a major UN summit for governments to act on commitments to end a debt crisis that is driving poverty worldwide.

Member organisations of the Catholic aid confederation Caritas Internationalis warned that commitments at the Fourth International Financing for Development (FFD4) summit were a “starting point” and that more steps must be taken to relieve debt burdens.

Governments at the summit, which took place between 30 June to 3 July in Seville, Spain, expressed support for measures to suspend demands for debt payments when countries have been struck by climate disasters. Negotiators also indicated willingness to create a global registry to track lending, which campaigners argue is necessary to make loans more transparent and deter creditors from charging extortionate interest rates.

Caritas Mural in Seville ©CaritasInternationalis

What was agreed at FFD4?

More than 50 countries are spending over 10 per cent of their tax revenues on paying interest bills on loans, depriving governments of the resources necessary to provide essential public services. Against this backdrop, as we reflect on the outcomes of the FFD4 summit, Caritas Internationalis welcomes several important steps that echo the spirit of our Turn Debt into Hope campaign.

The Sevilla Commitment (“Compromiso de Sevilla”) places people – especially those living in poverty, and the fight against inequality – at the heart of decisions about social protection and international cooperation (paragraph 10). Earlier in the document, governments also commit to concrete actions to tackle the debt burdens facing developing countries and to reduce the cost of borrowing for those who need it most (paragraph 6). These are urgent and necessary priorities if we are to lift households and communities out of the poverty circle.

Caritas Internationalis was encouraged to see renewed pressure on the G20 to improve the Common Framework for Debt Treatments so that it works more fairly and predictably, including allowing countries to pause debt repayments while negotiations are ongoing (paragraph 50). This is a vital step for nations already struggling to meet the needs of their people.

In addition, the Seville Commitment urges countries to pass new laws that would limit the power of creditors who block or delay debt deals in order to profit, so that fair and timely restructuring becomes possible (paragraph 50b). This is a long-standing demand of debt justice advocates and faith-based organisations alike.

One of the most promising developments is the agreement to start a new intergovernmental process at the United Nations and led by countries to review the global system for dealing with debt (paragraph 50f). This would bring countries, creditors and international institutions together to look at the gaps in the current system and explore new ways to ensure debt sustainability. Although no timeline has been set, the inclusion of this commitment is a significant breakthrough, especially given the resistance from several lending nations.

What makes this moment stand out is not the technical progress in Seville – or lack thereof; it is the deeper moral question behind it all.

Debt is the easiest issue to solve in financing development.” The problem is not so much about finding solutions; it is about finding the political and moral will to act. We must choose solidarity over indifference, and justice now over delay.
Alistair Dutton, Secretary General of Caritas Internationalis

FFD march at the UN Conference Centre in Seville ©CaritasInternationalis

Leaders ‘must go further’ to end debt crisis

The global debt crisis is leaving children unable to go to school and families unable to access healthcare. The commitments leaders have made in Seville are a small step forward, but they still need to go further if we are to ensure everyone has access to these basic rights.”
Alfonso Apicella, Senior Officer for Global Advocacy and Campaigns at Caritas Internationalis

Church groups at the FFD4 summit organised panel events to highlight how debt burdens are affecting communities around the world and to discuss the call from the late Pope Francis for creditors to mark the Church’s Jubilee year by remedying “unjust and unpayable debts”.

Campaigners also formed a faith bloc at a major march through the centre of Seville, waving fans with the words ‘Turn Debt into Hope’ printed on them.

Turn Debt Into Hope demonstration in Seville ©CaritasInternationalis

“People of faith brought a clear message to Seville that they expect governments to ensure countries don’t have to choose between funding schools and hospitals and paying overseas creditors – explains Apicella -. It’s now up to those leaders to turn their words into action. They can be assured that Church communities around the world will be calling on them to do so as the Jubilee year continues.”

Now more than ever, we must keep up the momentum. For Caritas and our partners supporting the Turn Debt into Hope campaign from all over the world, the work continues so as to hold leaders to these promises and to ensure that the future of our economic systems is rooted in the Jubilee principles of justice, compassion and human dignity.

Join the campaign to Turn Debt into Hope this Jubilee year: turndebtintohope.caritas.org/

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