Click here to advertise on CatholicCulture.org

Scrutinize loans to developing nations, Vatican delegate urges UN

Catholic World News - June 25, 2012

Loans to impoverished countries can aggravate those nations’ problems, the Vatican’s representatives warned a UN meeting on human rights.

Archbishop Silvano Tomasi, the Vatican’s permanent observer at UN offices in Geneva, said that it is important to recognize the influence of political corruption in some loan arrangements. In such cases, he said, the funds are not used to ease poverty, and might even increase economic inequalities, enriching government officials but not providing benefits to society. Loan service also adds to the burden on developing nations, he observed.

“Unjust, and especially exploitative, economic transactions are invalid and must be made just,” the archbishop said. He added that unfair loan agreements should be ended promptly, even if they have been duly ratified by all the parties legally involved.

Archbishop Tomasi called for transparency in loan agreements involving developing nations, saying that agreements concluded in secrecy increase the opportunities for corruption and exploitation.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach five million Truth-seeking readers worldwide this year. Thank you!

Progress toward our April expenses ($18,045 to go):
$35,000.00 $16,955.48
52% 48%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

Show 1 Comments? (Hidden)Hide Comments
  • Posted by: normnuke - Jun. 25, 2012 4:34 PM ET USA

    Wow! This is a breath of fresh air. Next thing you know people will be noticing that the UN is a cesspool of corruption.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Round Trip to the present moment: a Catholic jazz artist's latest offering April 22
Easter with the Pope April 21
Smaller Church, Bigger Faith, 3: Ecclesiastical Discipline April 17
The Holy Spirit and Evangelization: A Primer April 16
Journey to the Sun: A Strange Biography of Junípero Serra April 16

Top Catholic News

Most Important Stories of the Last 30 Days
Pope Francis: Easter Vigil homily (full text) CWN - April 20
Pope Francis's Easter Message 'Urbi et Orbi' (To the City and the World): full text, link to video CWN - April 20