Recently, hundreds of protesters marched through Accra demanding the cancellation of Africa’s ballooning external debt, which campaigners call a matter of “reparative justice.” The demonstration, organized by Ghana’s Trades Union Congress and the International Trade Union Confederation-Africa, highlighted how rising debt burdens threaten public services like health and education across the continent. A recent UNDP report underscores the urgency, revealing that Africa’s external debt doubled from about $500 billion in 2020 to over $1 trillion in 2024. Currently, 22 countries on the continent are in or near distress. Activists argue that servicing these debts, often under IMF-led austerity conditions, undermines investment in health and education.
SEMAFOR
