African Religious Leaders Call for Debt Relief Ahead of 2025 Jubilee of Hope
As the 2025 Jubilee Year approaches, African faith leaders have united in a powerful plea for debt forgiveness for Africa. They argue that debt servicing is hindering the ability of poorer nations to invest in essential areas such as health, education, and social services.
Representatives from Christian Churches, the Muslim community, national councils of Churches, and interreligious councils across 13 countries in Africa gathered in Kigali, Rwanda, to address this critical issue. Pope Francis has also highlighted the importance of debt relief on multiple occasions.
In a joint statement to the G20, G7, United Nations, IMF, and World Bank, these religious leaders called for significant changes in the global economic system to enable African nations to develop and invest in crucial social, health, and educational services for their populations.
Africa Faces $90 Billion Debt Servicing in 2024
The statement emphasized the difficult choices African countries must make between spending on their people and paying off creditors. In 2024 alone, Africa is expected to spend $90 billion on public debt servicing, while the combined spending on health, education, and social protection falls significantly short.
Reflecting on the Successful Jubilee 2000 Campaign
The religious leaders recalled the impact of the Jubilee 2000 campaign, which led to significant debt relief and poverty reduction investments in various countries. However, they noted that inequities in international systems and governance challenges have perpetuated unsustainable debt in many regions.
“Multiple shocks continue due to wars and conflicts, fragile health systems, climate change, food scarcity, and skyrocketing cost of living.”
Prioritizing People and the Environment Over Debt
The faith leaders stressed the importance of aligning global actions with Jubilee values that prioritize people and the Earth above debt. They called for forgiving unpayable debts to safeguard the achievement of UN development and climate goals.
They also advocated for responsible lending and borrowing principles, urging lenders to prevent the emergence of new cycles of unsustainable debt. Furthermore, the statement highlighted the need for risk-sharing between creditors and debtors in a world facing increasing challenges.
The religious leaders concluded by urging the international community to act decisively, emphasizing the power and responsibility to create a path that restores hope and renewal for Africa.
