Vatican UN envoy wants interest-free loans to ‘middle-income’ countries
April 02, 2025
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CWN Editor's Note: In an address to a UN meeting on middle-income countries, the Vatican’s representative has suggested that these countries should receive interest-free loans, to help them escape their debt burdens.
Archbishop Gabriele Caccia said: “Many middle-income countries already face high debt burdens, and financing that generates further debt risks deepening their financial distress.” He said that the countries need foreign investment to stimulate their economic growth, but cannot afford to increase their current debt burdens.
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