As Africa continues to grapple with an escalating debt crisis, clerics from across the continent and the Catholic Church worldwide are advocating for the cancellation of sovereign debt and a complete overhaul of the global financial system. African countries have long struggled with external borrowing, which has become increasingly unsustainable due to insufficient economic growth to support repayment. The result is a vicious cycle of debt dependency, with countries facing mounting obligations that hinder their ability to invest in critical public services and infrastructure.
Over the past two decades, Africa’s debt has surged to unprecedented levels, with many nations allocating over 50% of government revenues toward servicing these debts. According to the IMF and World Bank, this reliance on external financing, combined with factors such as volatile commodity prices, geopolitical instability, and structural economic deficiencies, has left many African economies teetering on the brink of default.
The issue is further compounded by structural adjustment programs imposed by international lenders, which often demand austerity measures. These measures typically have a disproportionate impact on the most vulnerable populations by cutting essential services like healthcare and education. For example, countries like Zambia, Ghana, Kenya, and Ethiopia are currently classified by the IMF as being in debt distress, with their economic growth faltering under the weight of this burden.
In response to this crisis, the Catholic Church has joined forces with other civil society organizations to push for a debt jubilee. The Church’s Jubilee 2025 campaign calls for a global debt cancellation, citing the successful 2000 Jubilee year campaign, which saw more than $100 billion in debt relief for some of the world’s poorest countries, including Uganda and Tanzania. Bishop Charles Sampa Kasonde, Chairman of the Association of Member Episcopal Conferences in Eastern Africa (AMECEA), emphasized the importance of addressing these inequities, stating, “Our vision for Jubilee 2025 is to see Africa liberated from the constraints of unjust debt, thriving within a fair global financial system.”
This sentiment was echoed by Father Charles Chilufya, Director of the Jesuits Justice and Ecology Network Africa (JENA), who remarked, “The burden of unjust debt undermines the dignity of millions, stifles development, and traps nations in cycles of poverty.”
With the support of these influential figures, the Jubilee 2025 Debt Cancellation Campaign aims to ignite a new global movement to break Africa’s dependence on external debt. If successful, it could free up resources for much-needed investments in health, education, and infrastructure, helping to create a more equitable global financial system.
