A crisis is quietly unfolding. It is about debt that is slowing down, if not inhibiting, development and climate action in over 100 poor countries. It wants Caritas to do something about it through the campaign "TurnDebtIntoHope" . Sign the petition here .

Among the world's low-income countries, 60 percent are approaching debt distress. This limits their ability to invest in their people's future. Instead of spending money on health, education, and other essential services, countries are having to pay down debt. This affects 3.3 billion people, and creates even more poverty and inequality.  

Although wealthy countries accounted for 80 percent of global debt in 2023, developing countries are bearing the brunt of the financial burden in the form of interest rates up to 12 percent higher. Although Africa accounts for two percent of global public debt, it is they who are coming out the worst.

This imbalance not only affects economies, it affects people and the most vulnerable in society. Families are left without access to healthcare, children are forced to drop out of school, and communities are ill-prepared for natural disasters.

Debt and climate justice

The debt crisis is not only economically damaging, but also an environmental barrier. In many developing countries, climate action is still out of reach – because debt repayment must take priority over the climate crisis. In the global South, governments spend 12 ½ times more on debt payments than on climate action, which in turn increases the risk of disasters and stops growth. Meanwhile, wealthy nations have spent six times more on fossil fuel subsidies than on international climate finance over the past 12 years.

What needs to be done?

Through the #TurnDebtIntoHope campaign, we are calling for Caritas :

1. Immediate cancellation and restructuring of unjust and unsustainable debt – without imposing harmful economic arrangements that affect the poorest.
2. Long-term financing plan that prioritizes people and the planet, contributes to fair and sustainable systems, and ends unsolidaristic lending practices.
3. The creation of a solidarity-based global debt framework.

Sign the petition!

Support the cause by signing the petition to Caritas Internationalis - where the goal is to collect 10 million signatures.