{"id":2261322,"date":"2024-06-06T12:43:02","date_gmt":"2024-06-06T16:43:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pope-joins-in-raising-red-flag-over-historic-global-public-debt\/"},"modified":"2024-06-06T12:47:04","modified_gmt":"2024-06-06T16:47:04","slug":"pope-joins-in-raising-red-flag-over-historic-global-public-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pope-joins-in-raising-red-flag-over-historic-global-public-debt\/","title":{"rendered":"Pope Expresses Concern Over Rising Global Public Debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpope-joins-in-raising-red-flag-over-historic-global-public-debt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2261322&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Pope Francis addressed the soaring global public debt, emphasizing the\u200d need for substantial reforms \u200bto halt \u200bits rise beyond $97 trillion. \u2062The \u2064United Nations recently published a\u2063 report examining\u200b this issue, shedding\u2063 light on the challenges faced, \u2064particularly by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ex-natsec-official-evidence-for-theory-that-pandemic-came-from-lab-far-outweighs-natural-outbreak\/\" title=\"Ex-NatSec Official: Evidence For Theory That Pandemic Came From Lab \u2018Far Outweighs\u2019 Natural Outbreak\">developing nations<\/a>. Your provided summary is concise and captures the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mike-gallagher-decision-to-leave-house-unchanged-despite-plea-from-leadership\/\" title=\"Mike Gallagher stands firm on decision to remain in the House despite leadership's plea for him to reconsider\">key points effectively<\/a>. It highlights Pope Francis&#8217; concerns\u2064 about the escalating\u200b global public debt and the significance of reforms\u2062 to address \u2063the issue. The mention of the United Nations report further adds \u2064depth to the \u200cdiscussion, emphasizing the impact on developing nations specifically.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_79\">\n<p><a href=\"http:\/\/washingtonexaminer.com\/tag\/pope-francis\" target=\"_blank\" rel=\"noopener\" title>Pope Francis<\/a> offered his take on <a href=\"http:\/\/washingtonexaminer.com\/tag\/debt\" target=\"_blank\" rel=\"noopener\" title>global public debt<\/a> hitting a record $97 trillion last year and called for <a href=\"http:\/\/washingtonexaminer.com\/tag\/economy\" target=\"_blank\" rel=\"noopener\" title>major reform<\/a> to prevent it from increasing.<\/p>\n<p>The United Nations released a <a href=\"https:\/\/unctad.org\/publication\/world-of-debt\" target=\"_blank\" rel=\"noopener\" title=\"report\">report<\/a> on Wednesday that examined the increase of $5.6 trillion in debt from 2022. Developing nations seem to be shouldering the highest interests, as they share $847 billion in net interest. Meanwhile, countries like the United States borrowed at rates two to four times lower than these nations, and Germany had rates six to 12 times lower.<\/p>\n<p>Francis is from Argentina, which defaulted on its debt in 2020 for the third time since 2000. At the time, it owed $323 billion in international bonds. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pope-francis-decries-rivers-of-blood-and-tears-flowing-in-war-torn-ukraine\/\" title=\"Pope Francis Decries \u2018Rivers of Blood and Tears\u2019 Flowing in War-torn Ukraine\">pope called<\/a> for the creation of \u201ca multinational mechanism\u201d that considers economic and social implications.<\/p>\n<p>\u201cThe absence of such a mechanism favors the mentality of \u2018every person for himself or herself,\u2019 where the weakest always lose,\u201d\u00a0Francis <a href=\"https:\/\/www.vatican.va\/content\/francesco\/en\/speeches\/2024\/june\/documents\/20240605-incontro-pas.html\" target=\"_blank\" rel=\"noopener\" title=\"told \">told <\/a>a Vatican conference on Wednesday. This comes as the Catholic Church prepares for a holy jubilee year in 2025.<\/p>\n<p>According to the U.N. report, 3.3 billion people live in countries where more money is spent on interest payments than climate, education, or health. Almost half of the 54 countries examined were in Africa. Francis suggested governments should not \u201cmorally require that its people suffer deprivations incompatible with human dignity.\u201d<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>One solution proposed by the U.N. Conference on Trade and Development is to fund its sustainable development goals stimulus package further to develop a new \u201cdebt workout mechanism,\u201d \u201csupport long-term sustainable development,\u201d and scale up private resources.<\/p>\n<p>The Catholic Church could likely replicate what it did for Jubilee 2000, when it encouraged countries to forgive some $130 billion of debt for the 35 poorest countries between 2000 and 2015.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pope Francis addressed the record $97 trillion global public debt, urging significant reforms to curb further escalation. A recent United Nations report highlighted a $5.6 trillion debt surge in 2022, with developing nations bearing the brunt of increasing interests<\/p>\n","protected":false},"author":2631,"featured_media":2261323,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP22107406882690.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2261322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP22107406882690.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2261322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2631"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2261322"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2261322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2261323"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2261322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2261322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2261322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}