Vatican City: Caritas Internationalis, in collaboration with the Vatican’s Dicastery for Promoting Integral Human Development, is set to convene a global virtual “townhall” on May 28, spotlighting one of the most pressing yet overlooked humanitarian concerns of our time—the global debt crisis.

Titled “Pilgrims of Hope: A Jubilee inspiration for action on debt, climate and development,” the 90-minute event will run from 14:30 to 16:00 Rome time. It brings together a diverse group of thought leaders—including top Vatican officials, renowned economists, and voices from civil society—to examine how unjust financial systems continue to shackle billions in poverty and what can be done to transform this economic burden into a catalyst for justice and renewal.

The townhall is a key component of Caritas Internationalis’ broader initiative, “Turn Debt into Hope,” a global campaign launched on December 23, 2024, in the lead-up to the Catholic Church’s Jubilee Year of Hope. The campaign seeks to elevate global consciousness about the systemic nature of sovereign debt and its impact on development, warning that over 3.3 billion people live in nations where more money is spent servicing debt than is invested in education, health care, and basic public needs.

Organizers describe the crisis not merely as a financial dilemma, but as a humanitarian and developmental emergency. The event will also echo the message Pope Francis conveyed during the 2025 World Day of Peace, where he called for international action to provide relief to debt-laden nations—not out of benevolence, but as a matter of global justice.

The distinguished speaker lineup includes Professor Martin Guzmán of Columbia University’s School of International and Public Affairs, Sister Alessandra Smerilli—Secretary of the Dicastery—and Archbishop Gabriele Giordano Caccia, the Holy See’s Permanent Observer to the United Nations. Their discussion will explore a roadmap to recalibrate the world’s financial structures to prioritize dignity, equity, and sustainability.

Topics on the agenda include debt relief strategies, systemic reforms in global finance, and how the teachings of Pope Francis—particularly those found in Laudato si’—can guide an ethical reimagining of global economics. The event coincides with the tenth anniversary of Laudato si’, further reinforcing the Pope’s vision of a world where economic systems uphold human rights and environmental integrity above profit.

Participants will also get an early look at an anticipated report by a Vatican-commissioned debt study group, co-hosted by the Pontifical Academy of Social Sciences and Columbia University’s Initiative for Policy Dialogue, under the stewardship of Nobel laureate Professor Joseph Stiglitz. The report is expected to offer critical recommendations on debt justice and sustainable development.

This townhall aims to spark a global movement—anchored in the values of the Jubilee Year—to push for deep, structural changes to a global economy that too often leaves the vulnerable behind. Through shared vision and action, Caritas hopes to turn the page on the era of debt domination and write a new chapter of hope and human dignity.