International debt

14. The Jubilee was also a great event of charity — and it could not be otherwise. Already in the years of preparation, I had called for greater and more incisive attention to the problems of poverty which still beset the world. The problem of the international debt of poor countries took on particular significance in this context. A gesture of generosity towards these countries was in the very spirit of the Jubilee, which in its original Biblical setting was precisely a time when the community committed itself to re-establishing justice and solidarity in interpersonal relations, including the return of whatever belonged to others. I am happy to note that recently the Parliaments of many creditor States have voted a substantial remission of the bilateral debt of the poorest and most indebted countries. I hope that the respective Governments will soon implement these parliamentary decisions. The question of multilateral debt contracted by poorer countries with international financial organizations has shown itself to be a rather more problematic issue. It is to be hoped that the member States of these organizations, especially those that have greater decisional powers, will succeed in reaching the necessary consensus in order to arrive at a rapid solution to this question on which the progress of many countries depends, with grave consequences for the economy and the living conditions of so many people.