Supporting Efforts to Challenge Global Debt in 2025

That the Parliament welcomes the Scottish Catholic International Aid Fund’s (SCIAF) involvement in a global campaign to challenge debt during its jubilee year; notes that Pope Francis has urged the international community “to work towards forgiving foreign debt in recognition of the ecological debt existing between the north and the south of this world"; believes that this is the worst global debt crisis in 30 years, with the vast majority of debt held by private creditors, such as hedge funds and oil traders; further believes that countries supported by Scotland’s International Development Fund, such as Malawi and Zambia, are forced to spend more on debt repayments than on their entire health and education budgets combined; understands that 54 countries are in debt crisis and this issue is cyclical, as previous debt relief efforts did not address the root causes or ensure a fairer system; agrees with calls for a permanent and fairer UN solution and improvements to the interim G20 debt relief process; welcomes the campaign efforts across the UK under the banner of Cancel Debt, Choose Hope, and calls on the Scottish Government to echo calls for a fairer system.