The African Regional Organisation of International Labour Confederation (ITUC-Africa) has advocated for debt relief for Africa nations over the rising debt profile of the continent.
Speaking during a continental awareness campaign rally tagged “stop the bleeding, break debt chains,” in Lusaka, the Zambia capital, ITUC-Africa president, Comrade Martha Molema, said the continent can only achieve meaningful development only when her debt are cancelled.
She said Africa as a continent loses $89 billion every year to illicit financial flows, adding that such money would have been enough for the continent to develop, provide required amenities and feed its people.
In a letter addressed to Zambian government on behalf of other governments, representatives of World Bank, IMF and members of diplomatic corps, Comrade Martha Molema, urged African governments to desist from mortgaging the future of its people and unborn children through borrowing.
The rally was part of the lineup activities of the ongoing 14th New Year School of the African Regional Organisation of the International Trade Union Confederation, in Lusaka.
At the school, African workers had unanimously posit that the skyrocketing debt of African countries in the international financial institutions, will further exacerbate low wages, hunger and suffering in the continent because of austerity measures.
With over five thousand Africans comprising ITUC-Africa members from different trade unions across the continent, members of Zambian Congress of Trade Unions (ZCTU), concerned citizens, students from universities and secondary schools who converged at Garden Corner Chilulu, Lusaka, the rally procession commence by 9am.
The mammoth crowd had on their hands placards inscribed: “The global financial system works against Africa, restructure it”, “Debt relief: Fairness for African citizens,” “Public debt takes away money for health,” “Lower the cost of sovereign borrowing for countries at risk debt distress,” “Drop the debt; Africa can’t breathe,” “Unsustainable debt unpoprotiontly hurt women and girls,” “More debt, more taxes, more inequalities,” “We demand debt relief for Africa’s development” and many more.
