The Pope said that financial markets need to ensure that they work for the common good, with the help of laws and regulations. He said that we will not allow market law to replace priorities like love and health.
Pope Francis (AFP)
Pope Francis has told world financial chiefs that poor countries affected by the economic impact of Coronavirus need to reduce their debt burden. He said that poor countries should be given more ‘rights’ in decision making at the global level. In a letter to the International Monetary Fund and the World Bank’s Annual Spring Meeting, the Pope wrote that the world is facing mutual social, economic and political crises due to the epidemic.
He called for a new ‘global plan’ in which poor and less developed countries have an effective stake in decision making and facilitating access to the international market. He said that the spirit of global solidarity demands a significant reduction in the debt burden of poor countries, which have been badly affected by the epidemic.
Work with financial markets with the help of laws and regulations
Financial heads of groups of 20 large economies on Wednesday increased the suspension of debt servicing costs for developing countries. Pope said that financial markets need to ensure that they work for the common good, with the help of laws and regulations. He said that we cannot allow the law of the market to replace the priority of love and health. The pope has also appealed to political and business leaders to give ‘vaccines for all, especially the most vulnerable and needy’.
Vatican issued ‘disputed’ order
The Pope was engulfed in controversy after issuing an order last month. In fact, in March, the Vatican issued an order on Monday that the Catholic Church cannot bless for gay marriages because God ‘cannot bless evil.’ In this regard, the Vatican’s ‘piety office’ issued a formal answer to the question of whether the Catholic clergy could give blessings for gay marriages.
In response to the question, a clarification of two pages was given which was published in seven languages and it was recognized by Pope Francis. The Vatican had said that homosexuals should be treated fairly but such marriages cannot be blessed because according to God, marriage is a life-long union between men and women and God cannot ‘bless evil’ like gay marriages.
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