By Fr. Michael Nsikak Umoh, CSN
Faith leaders from across Africa gathered in Kigali, Rwanda, to issue a united call for a debt jubilee in 2025, urging global leaders to take action to address the continent’s economic woes.
Representing especially the Christian and Muslim faiths, the group unanimously emphasized the need for debt forgiveness and reform to prevent further suffering and ensure sustainable development.
They further pointed out that Africa will spend $90 billion on debt servicing this year, while the average African country’s combined spending on health, education, and social protection is only two-thirds of their debt payments.
In a communique dated July 19, 2024 and signed by 27 faith leaders, the participants appealed to global leaders under the umbrella of the G20, G7, United Nations, IMF, and World Bank to align their actions with Jubilee values by prioritizing people and the planet over debt.
They proposed several key actions, including forgiving unpayable debts, developing permanent and predictable debt reduction processes, implementing responsible lending and borrowing principles, mainstreaming risk sharing, and scaling up access to resources for development.
The faith leaders stressed that the international community is at a crossroads and has the power and responsibility to steer it towards a path of hope and renewal.
The Nigerian Catholic representatives at this united front in the call for debt jubilee and economic transformation in Africa were Bishop Hassan Kukah of Sokoto, Bishop Hyacinth Egbebo of Bomadi and Mr. Joe Nkamuke of Caritas Nigeria.
