Africa's massive external debt burden is the single biggest obstacle to the continent's development and to the fight against HIV/AIDS. The $300 billion that African countries owe to foreign creditors represents a crippling load that undermines economic and social progress. Much of Africa's foreign debt is illegitimate in nature, having been incurred by unrepresentative and despotic regimes. These loans did not benefit Africa’s people.
Sub-Saharan African countries spend almost $15 billion each year repaying debts to rich country governments and international financial institutions, such as the World Bank and International Monetary Fund (IMF). Servicing these debts diverts money directly from spending on health care, education and other important needs. Debt fuels the HIV/AIDS pandemic that claims 6,500 lives a day in Africa, and preventable diseases that kill 30,000 children a day worldwide.
International debt is a faith issue for those who believe in a God of life. Our sacred scriptures call us to work to build right relationships between nations and communities. What could be more harmful to that purpose than crippling illegitimate debts? People of faith and conscience around the world have been calling for 100% debt cancellation for impoverished nations. While this call has made some gains – and 14 African countries will receive full debt cancellation – much more needs to be done to free the rest of Africa from debt.
CONGREGATION NAME HERE is working with Africa Action’s Religious Action Network in the
Campaign to Cancel Africa’s Debt. You can learn more about this issue and take action at
www.africaaction.org.
Please join us at EVENT/ ACTION OPPORTUNITY/ SERVICE goes HERE.