Low-income countries currently spend an average of 18% of government revenue paying foreign debts each year, compared with just 5% in 2014. Research shows that if debt-servicing was capped at 10%, the released funds could give clean water to 11 million people, basic sanitation to 23 million and funding for school enrolment to 3 million additional children. The potential for human development is enormous.
Pope Francis called repeatedly for action on the debt crisis, saying, “More than a question of generosity, this is a matter of justice.” Cardinal Stephen Ameyu Martin Mulla of South Sudan says, “When debt repayment takes priority over essential services, the poorest suffer most”, calling for a “fairer and more compassionate debt system.” According to Archbishop Gabriele Giordano Caccia, "We must acknowledge that there has not just been a serious economic failure but a moral one.”
We made a strong start on this in 2025 which was the Jubilee Year. 35,000 CAFOD supporters signed our petition and over 1000 emailed their MP, as part of a worldwide effort to push this issue into the spotlight. This global campaigning increased pressure on politicians and ensured debt was on the agenda at important global summits last year.
As a result, we’ve seen a shift in the UK government, with ministers and officials demonstrating more openness to looking at solutions. We need to push them to turn their positive words into concrete action. In 2027 the UK will host the G20, a crucial gathering of the world’s most powerful economies - so this year is a crucial moment to influence them and secure an end to the debt crisis.
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