Initiative for Policy Dialogue

On June 20, 2025 the Pontifical Academy of Social Sciences (PASS) and Columbia University’s Initiative for Policy Dialogue (IPD) published a report by a commission of global experts calling for urgent action and systemic reforms to tackle the escalating debt and development crises.

Explore Further >> about The Jubilee Report: A Blueprint for Tackling the Debt and Development Crises and Creating the Financial Foundations for a Sustainable People-Centered Global Economy

Dear members of the Paris Club Secretariat, Thank you for the invitation to present some of the key findings and conclusions of the Jubilee Report, commissioned by Pope Francis and prepared by a Commission of<a class="moretag" href="https://ipdcolumbia.org/"> Read more…</a>

Explore Further >> about Remarks by Martín Guzmán at 12th Edition of the Paris Forum: Key findings and conclusions of the Jubilee Report

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The conventional perspective that a debt crisis occurs only when a country defaults is deeply flawed. In reality, numerous nations are experiencing economic stagnation due to unsustainable debt burdens, even without formal default. According to UNCTAD, more than three billion people live in countries where debt servicing surpasses spending on essential sectors such as education and healthcare.

Explore Further >> about Tackling the Debt and Development Crises in Jubilee Year 2025

A debt crisis is endangering development around the world, increasing the risk of defaults in the coming years, especially in low and lower-middle income countries. When countries suffer debt crises, prolonged and insufficient debt restructurings delay economic recovery and stunt funding for priorities like healthcare, education, and mitigating impacts of the climate crisis. This dangerous situation calls for urgent attention to the inefficiencies in the sovereign debt restructuring landscape.

Explore Further >> about Support Memorandum

The email arrived in early February from the U.S. Embassy in Copenhagen, carrying a blunt message. It informed the organizers of a Danish lecture series — one I was soon scheduled to speak at — that the final portion of American funding would be released only after they signed a statement essentially saying they were in compliance with a U.S. executive order banning diversity, equity and inclusion.

Explore Further >> about My Brush With Trump’s Thought Police

The death of Pope Francis and global aid cuts led by the United States could complicate the work of a group of experts assembled by the Vatican to bring debt relief and a fairer financing system to the world's poor.

Explore Further >> about Pope’s death, US aid cuts complicate Vatican’s debt relief push