The Africa Institute, Global Studies University (GSU) is celebrating the appointment of Grieve Chelwa, Chair of the Department of Social Sciences and Associate Professor of Political Economy, to the newly established Papal Commission on the Debt and Development Crisis in the Global South. Convened by the Pontifical Academy of Social Sciences at the Vatican and chaired by Nobel Prize-winning economist Joseph Stiglitz, the Commission aims to address the mounting sovereign debt challenges faced by developing nations. The Commission’s findings will be presented to Pope Francis later this year.
Professor Chelwa, a leading scholar in political economy and African development, was recently recognized by The Africa Report as one of the “10 African Scholars to Watch in 2025.” His appointment to this high-profile commission underscores his growing influence in global economic policy discussions.
The 33-member Commission, brings together leading experts to propose systemic financial reforms. Alongside Professor Chelwa, distinguished members include Mariana Mazzucato (University College London), Jeffrey Sachs (Columbia University), Olivier Blanchard (MIT), Helen Alford (President of the Pontifical Academy of Social Sciences), Martin Guzman (former Minister of Finance in Argentina), Haruhiko Kuruda (former Governor of the Bank of Japan), José Antonio Ocampo (former Minister of Finance in Colombia) and Vera Songwe (former Executive Secretary of the United Nations Economic Commission for Africa).
The Vatican officially announced the Commission’s formation on February 21, 2025. The group will produce a Jubilee Report on Addressing the Debt and Development Crises, providing a blueprint for restructuring international financial systems to promote sustainable development. “The debt crisis is not just an economic issue—it is a development crisis that affects billions of people across the Global South,” said Professor Chelwa. “I am deeply honored to serve on this Commission, and I look forward to contributing to discussions that will shape policy recommendations for a more equitable and just global financial system. This is an incredible opportunity for me and for The Africa Institute, GSU, as it solidly places us on the global map.”
Pope Francis has long emphasized economic justice as a moral issue and previously called for an international mechanism for sovereign debt restructuring to ensure that struggling nations are not burdened by financial systems that perpetuate inequality.
The urgency of the Commission’s work is highlighted by recent data showing that developing countries spent a record US$1.4 trillion in 2023 just to service their debt, according to the World Bank. More than 3.3 billion people live in countries that spend more on debt service than on healthcare, while 2.1 billion live in nations where debt service costs exceed education spending. These financial burdens hinder sustainable development and economic progress across the Global South.
As the Commission begins its work, Professor Chelwa and his fellow members will engage in high-level discussions aimed at addressing the structural challenges that perpetuate financial instability in developing nations. Their findings will culminate in the Jubilee Report on Addressing the Debt and Development Crises, which will serve as a roadmap for global policymakers and institutions.
The Africa Institute, GSU, extends its heartfelt congratulations to Professor Chelwa on this outstanding achievement and looks forward to his contributions to shaping economic justice on a global scale.
The Africa Institute, Global Studies University (GSU) is celebrating the appointment of Grieve Chelwa, Chair of the Department of Social Sciences and Associate Professor of Political Economy, to the newly established Papal Commission on the Debt and Development Crisis in the Global South. Convened by the Pontifical Academy of Social Sciences at the Vatican and chaired by Nobel Prize-winning economist Joseph Stiglitz, the Commission aims to address the mounting sovereign debt challenges faced by developing nations. The Commission’s findings will be presented to Pope Francis later this year.
The Africa Institute, Global Studies University (GSU) is celebrating the appointment of Grieve Chelwa, Chair of the Department of Social Sciences and Associate Professor of Political Economy, to the newly established Papal Commission on the Debt and Development Crisis in the Global South. Convened by the Pontifical Academy of Social Sciences at the Vatican and chaired by Nobel Prize-winning economist Joseph Stiglitz, the Commission aims to address the mounting sovereign debt challenges faced by developing nations. The Commission’s findings will be presented to Pope Francis later this year.
Professor Chelwa, a leading scholar in political economy and African development, was recently recognized by The Africa Report as one of the “10 African Scholars to Watch in 2025.” His appointment to this high-profile commission underscores his growing influence in global economic policy discussions.
The 33-member Commission, brings together leading experts to propose systemic financial reforms. Alongside Professor Chelwa, distinguished members include Mariana Mazzucato (University College London), Jeffrey Sachs (Columbia University), Olivier Blanchard (MIT), Helen Alford (President of the Pontifical Academy of Social Sciences), Martin Guzman (former Minister of Finance in Argentina), Haruhiko Kuruda (former Governor of the Bank of Japan), José Antonio Ocampo (former Minister of Finance in Colombia) and Vera Songwe (former Executive Secretary of the United Nations Economic Commission for Africa).
The Vatican officially announced the Commission’s formation on February 21, 2025. The group will produce a Jubilee Report on Addressing the Debt and Development Crises, providing a blueprint for restructuring international financial systems to promote sustainable development. “The debt crisis is not just an economic issue—it is a development crisis that affects billions of people across the Global South,” said Professor Chelwa. “I am deeply honored to serve on this Commission, and I look forward to contributing to discussions that will shape policy recommendations for a more equitable and just global financial system. This is an incredible opportunity for me and for The Africa Institute, GSU, as it solidly places us on the global map.”
Pope Francis has long emphasized economic justice as a moral issue and previously called for an international mechanism for sovereign debt restructuring to ensure that struggling nations are not burdened by financial systems that perpetuate inequality.
The urgency of the Commission’s work is highlighted by recent data showing that developing countries spent a record US$1.4 trillion in 2023 just to service their debt, according to the World Bank. More than 3.3 billion people live in countries that spend more on debt service than on healthcare, while 2.1 billion live in nations where debt service costs exceed education spending. These financial burdens hinder sustainable development and economic progress across the Global South.
As the Commission begins its work, Professor Chelwa and his fellow members will engage in high-level discussions aimed at addressing the structural challenges that perpetuate financial instability in developing nations. Their findings will culminate in the Jubilee Report on Addressing the Debt and Development Crises, which will serve as a roadmap for global policymakers and institutions.
The Africa Institute, GSU, extends its heartfelt congratulations to Professor Chelwa on this outstanding achievement and looks forward to his contributions to shaping economic justice on a global scale.
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