Social sin is present where there are growing economic disparities, increasing concentrations of economic power, and accelerating environmental abuse. Only God is ultimate. It is a form of idolatry when any given economic model or system is viewed as complete or fully adequate. They should be flexibly adapted to specific social, economic and environmental contexts and open to innovative designs responsive to popular and democratic needs and initiatives. We observe that adjustment measures based on this model have not adequately taken into account individual countries' particular sets of needs and circumstances or to the social and environmental consequences of such reforms.
All humanity is called to forgiveness, reconciliation and jubilee.
The biblical witness mandates just and equitable commercial relationships, selfless help to those in need and the cancellation of oppressive debts that keep people locked in poverty. It calls for the restoration of land and livelihood to the dispossessed. Jesus taught that God will treat our debts in light of our treatment of others' debts to us. The crushing international debt burden unjustly carried by millions of people living in impoverished countries cries out for justice. Debt relief must not be rigidly conditioned on adjustment that further burdens people living in poverty, and it must be implemented in ways that primarily benefit the ordinary people who have borne the major burden of their countries' indebtedness.