|USA||BOSTON ARCHDIOCESE FORGIVES MILLIONS IN PARISH DEBTS|
The Archdiocese of Boston has taken the Jubilee message of debt forgiveness to heart, wiping out the debts of some 104 parishes, out of 372, totalling $A48.8 million.|
While some of the debts were for "non-working" loans, or debts that would never be paid by back by the poorest parishes, many of the pastors of the affected parishes welcomed the relief from the psychological burden such debts imposed.
Vice Chancellor for Finance David Smith said about 60% of the $A48.8 million was owed by 28 of the "poorest of the poor" churches.
The debts included loans given out by the archdiocese for necessary church renovations, unpaid insurance bills, or assessments for health and retirement funds.
The archdiocese said the forgiveness program is part of the Jubilee Year call to make a new start with the new millennium.