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These challenges have been exacerbated by multiple shocks, including the COVID-19 pandemic, pre-existing vulnerabilities, wars, fragile health systems, climate change, and a soaring cost of living. The leaders said there is an urgent need for a new debt relief to offer hope to humanity and prevent the planet from becoming uninhabitable.PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible. Help us bring you and millions of others in-depth, meticulously researched news and information.
According to them, Africa is projected to spend $90 billion this year on servicing public debt, while the total expenditure of the average African country on health, education, and social protection amounts to only two-thirds of their debt payments.They called for forgiving debts that threaten development and climate goals, establishing permanent and predictable debt reduction processes, and implementing responsible lending and borrowing principles.
Among the notable signatories of this appeal are Catholic Archbishop of Sokoto Diocese, Mathew Kukah; Bishop of Malindi in Kenya and Chairman of the Inter-Religious Council of Kenya, Willybard Lagho; and a religious scholar at the Supreme Council of Kenya Muslims, Ibrahim Lethome.