Africa Action: Campaign to Cancel Africa's Debt

Thursday, July 3, 2008

Campaign to Stop Genocide in Darfur

Campaign to End HIV/AIDS in Africa

Campaign to Cancel Africa's Debt

Africa Action Student Network

Religious Action Network

Campaign to Cancel Africa's Debt

Africa's over $200 billion debt burden is the single biggest obstacle to the continent's development. Most of this debt is illegitimate, having been incurred by despotic and unrepresentative regimes. African countries spend almost $14 billion annually on debt service, diverting resources from HIV/AIDS programs, education and other important needs. The U.S. and other rich countries have resisted calls to cancel this debt, instead proposing partial solutions that are inadequate and impose harsh economic policies on indebted countries. Africa Action’s Campaign to Cancel Africa’s Debt mobilizes pressure on the U.S. government to push for 100% debt cancellation for all impoverished African countries without harmful conditions. more >

What's New

Understanding Vulture Funds - Key Terms to Know
June 2008
"This glossary defines twelve important terms to help you better understand what vulture funds are and how activists can help protect African countries from the exploitative business practices of these 21st century profiteers..." Go >

Vulture Funds - Spotlight on Zambia
March 20, 2008
"This campaign update explores vulture funds - what they are and what can be done to stop them - using the case study of Zambia. In 2007, Zambia was forced to pay $15 million of expected debt cancellation savings intended for education and health care to the vulture fund Donegal International..." Go >

Widespread Praise of Bush�s Africa Visit Ignores President�s Flawed Legacy
February 20, 2008
"As President Bush returns to the United States after his visit to Africa, Africa Action challenges the view that the Bush administration's policy toward Africa will leave behind the positive legacy of a 'compassionate conservative'..." Go >

Statement on the Successful Campaign to Clear Liberia�s Arrears
November 15, 2007
"Africa Action applauds activism that drove the International Monetary Fund to clear Liberia's arrears, paving the way for full debt cancellation..." Go >

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	Sub-Saharan Africa receives $10 billion in aid but loses $14 billion in debt payments per year.
	In Burundi, elimination of education fees in 2005 allowed an additional 300,000 children to attend school.
	While more than 80 million Nigerians live on less than $1 per day, in 2005 Nigeria agreed to pay over $12 billion to the Paris Club of creditors in exchange for partial debt cancellation.
	In 2003, Zambia spent twice as much on debt repayments as on health care. But partial debt cancellation allowed the government to grant free basic healthcare to its population in 2006.


	“Must we starve our children to pay our debts?” *Julius Nyerere*, former president of Tanzania
	“The debt is a new form of slavery, as vicious as the slave trade.” *All Africa Conference of Churches*
	“Debt is tearing down schools, clinics and hospitals. The effects are no less devastating than war.” *Adebayo Adedeji*, African Center for Development Strategy, Nigeria


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