Compendium of the Social Doctrine of the Church

The right to development must be taken into account when considering questions related to the debt crisis of many poor countries.^{944Cf. John Paul II, Apostolic Letter Tertio Millennio Adveniente, 51: AAS 87 (1995), 36; John Paul II, Message for the 1998 World Day of Peace, 4: AAS 90 (1998), 151-152; John Paul II, Address to the Conference of the Inter-Parliamentarian Union (30 November 1998): Insegnamenti di Giovanni Paolo II, XXI, 2 (1998), 1162-1163; John Paul II, Message for the 1999 World Day of Peace, 9: AAS 91 (1999), 383-384.} Complex causes of various types lie at the origin of the debt crisis. At the international level there are the fluctuation of exchange rates, financial speculation and economic neo-colonialism; within individual debtor countries there is corruption, poor administration of public monies or the improper utilization of loans received. The greatest sufferings, which can be traced back both to structural questions as well as personal behaviour, strike the people of poor and indebted countries who are not responsible for this situation. The international community cannot ignore this fact; while reaffirming the principle that debts must be repaid, ways must be found that do not compromise the “fundamental right of peoples to subsistence and progress”.^{945John Paul II, Encyclical Letter Centesimus Annus, 35: AAS 83 (1991), 838; cf. also the document At the Service of the Human Community: an Ethical Approach to the International Debt Question, published by the Pontifical Commission “Iustitia et Pax” (27 December 1986), Vatican City 1986.}