05/29/2026
There is a growing global understanding about the need for sovereign debt reforms that protect countries and their people from private creditors looking to maximize profits at any cost. Voices ranging from the IMF to Pope Francis have come out in favor of reform in recent years. When we help destroy other countries’ economies, preventing them from providing education, infrastructure, clean water, electricity, and healthcare to their people, not only do the people of that country suffer, but we suffer the ripple effects of that destabilization.
Our faith traditions compel us to show compassion for debtors. New York is uniquely positioned to set fairer rules for dealing with countries that cannot pay their debts.