More than 3.3 billion people live in countries where debt repayments exceed spending on health and education, standing in the way of sustainable development, climate action, and human dignity. These unjust debts—primarily held by wealthy Global North countries and their financial institutions—trap millions in poverty, burden future generations, and exacerbate the impacts of the climate crisis. Meanwhile, nations like Canada and multinational corporations exploit resources from these countries and Indigenous communities, perpetuating human rights violations and ecological destruction. In other words, the Global North owes the Global South and Indigenous peoples an “ecological debt.”
This unjust system can and must change. Public, private, and multilateral creditors in the Global North have the power to cancel or reduce these debts, paving the way for a transformative shift toward global debt justice. By supporting a fair and transparent multilateral framework for debt resolution, political leaders can prioritize people and the planet over profit.
The idea of Jubilee—deeply rooted in faith traditions and scripture—offers a hopeful vision for a world where debts are forgiven, inequities are diminished, and communities and the land can flourish.
Take Action Today! Citizens for Public Justice (CPJ) and partner organizations are calling on Canadians to join the fight for debt justice by signing the Jubilee 2025: Turn Debt into Hope. petition below.
To learn more about Jubilee 2025: Turn Debt into Hope, please see the official press releases in English and French.
Petition
Jubilee 2025: Turn Debt into Hope
We, the undersigned, together with people all over the world, call on public, private and multilateral creditors, along with political leaders, to:
- Stop the debt crisis now by cancelling and remedying unjust and unsustainable debts without economic policy conditions.
- Prevent debt crises from happening again by addressing their root causes, reforming the global financial system to prioritize people and planet.
- Establish a permanent, transparent, binding and comprehensive debt framework within the United Nations.