African religious leaders are calling for an urgent debt reduction process to aid the countries in paying back their collective debt of over 1.1 trillion U.S. dollars.
In a joint statement, the leaders raise the concern that the debt financing and high interest rates make it difficult for countries, particularly in the south, to use their funds to provide people with social services.
The United Nations has stressed the importance of resolving this problem that affects 3.3 billion people.
ANTÓNIO GUTERRES
United Nations Secretary-General
3.3 billion people is more than a systemic risk. It's a systemic failure.
And some of the poorest countries in the world are forced into a choice between servicing their debt or serving their people.
Pope Francis has also highlighted the importance of the wellbeing of Africa in the universal Church and the world. Following his trip to South Sudan and the Democratic Republic of Congo earlier this year, he called spoke out against a greedy external view of Africa.
POPE FRANCIS
February 8, 2023
Stop exploiting Africa! I have said several times that in the collective unconscious there is [the notion that] “Africa must be exploited.” Enough of this!
This is not the first time the group of leaders has asked for aid with their debt problem. Ahead of the G20 meeting last year, they spoke of the need to remove unpayable debts to avoid plunging the countries into poverty.
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