The enormous debt that many third world countries owe to industrialized nations prevents them from attaining long-term political and economic stability, and impedes sustainable human development.

When debt relief is promised to countries that have been deemed eligible, it is often slow to arrive, due in large part to the extensive conditions required by the agencies coordinating these programs, namely the IMF and the World Bank.

In 2009, the SJC has taken action by advocating for odious debt cancellation and an international debt moratorium. Odious, or illegitimate debt is incurred when countries and institutions loan funds to corrupt leaders or dictators when it is known that the money would be misused or wasted. An international debt moratorium would freeze all debt payments, providing impoverished countries with more resources to respond to dire humanitarian crises.