Debt cannot be repaid, first because if we don’t repay, lenders will not die. That is for sure. But if we repay, we are going to die. That is also for sure.
Thomas Sankara, 1987
African movements unify to campaign for the cancellation of public and private debt
February 5 - 7
The debt crisis in Africa has been slow burning and is now vastly aggravated by Covid-19. This is one of many crises of climate, ecology, conflict and population displacements, which are pre-existing and reinforce each other. The negative repercussions that the Covid-19 pandemic will inevitably have on the economies, finances and living conditions of communities across Africa - and whose effects are already being felt - challenge us all.
Yet the servicing of external public and private debts contracted with states, multilateral institutions and private creditors absorbs every year the social budgets of our countries. Debt servicing, capital flight and illicit capital flows, as well as ‘unfree’ trade agreements, are sapping Africa of its wealth, compromising state financial resources to protect populations and ensure the fulfilment of fundamental human rights. By way of example, public health spending is significantly less than the minimum levels set by the World Health Organization.
Within this framework, we, African social movements, are uniting across the continent to demand the cancellation of the public and private debt of African states, estimated at US$600 billion. We denounce the failure of international financial institutions as well as public and private creditors to step up and address a growing humanitarian crisis.
Three recent calls for Africa’s debt cancellation have received the support of many hundreds of organisations (see below). We have resolved to unify these calls and strengthen a Pan African movement for debt cancellation. See the calls below.
THIS WEEK is the 34th African Union Summit (#AUSummit), and on February 6 and 7 2021, the African Heads of State will meet. From February 5, we need YOU to help us take action!
WE CALL UPON THE AFRICAN UNION (AU) to stand with all African peoples and join our demand to free Africa from the shackles of debt. We encourage the heads of states to support the call for cancellation of Africa’s debt.
HOW YOU CAN TAKE ACTION
1. EMAIL the letter (available in English, French, Portuguese, Arabic) to your Heads of State and the African Union Chair to DEMAND that the AU join African peoples everywhere to cancel the debt!
WHO TO WRITE TO -
2. SPREAD THE WORD using this simple social media pack, #YEStoLifeNOtoDebt #LiberateAfricaFromDebt #AUSummit
USE THE SOCIAL MEDIA PACK at bit.ly/CancelAfricaDebt
GET THE LETTER & OTHER MATERIALS IN ENGLISH, FRENCH, PORTUGUESE HERE: http://bit.ly/CancelAfricaDebt!
Also visit womin.africa for more updates.
FIND the three powerful calls HERE.
SECRETARIAT RESEAU CADTM AFRIQUE, CAD-Mali Djélibougou Rue : 326 Porte : 26 - BP. 2521 Bamako - Mali - Tél./Fax : 20 24 01 34 / E-mail : secretariatcadtmafrique at gmail.com
Capacity-building seminar for Togolese women and civil society organisations on illegitimate debts, their impact on human rights and possible alternatives
Lomé Declaration14 September, by CADTM Afrique , Attac-Togo , Womin , Foundation for a just society
21 June, by Collective , ATTAC/CADTM Morocco , CADTM Afrique
7 February 2022, by CADTM Afrique
25 March 2014, by CADTM Afrique
Press release
The CADTM Africa network condemns the military intervention by France and its allies in Mali1 February 2013, by CADTM Afrique
Capacity-building seminar for Togolese women and civil society organisations on illegitimate debts, their impact on human rights and possible alternatives
Lomé Declaration14 September, by CADTM Afrique , Attac-Togo , Womin , Foundation for a just society
23 February 2022, by Womin
8 June 2021, by CADTM International , Collective , World March of Women , TNI , Womin