WORKERS across Africa have called on the International Monetary Fund (IMF) and the World Bank to cancel debts owed by African nations, arguing that the financial burdens threaten the future of unborn generations and undermine social justice.
The demand was made by Comrade Akhator Joel Odigie, General Secretary of the African Regional Organisation of the International Trade Union Confederation (ITUC-Africa), during an awareness rally in Grand Bassam, Côte d’Ivoire. The rally, part of the 15th Edition of the ITUC-Africa New Year School, attracted over 3,000 workers, market women, and students.
With placards bearing bold messages such as “It’s Unjust to Make Unborn Generations Pay for Today’s Bad Debt,” “Debt-Driven Austerity Cuts Essential Services for Women and Children,” and “Africa Deserves Economic Justice,” demonstrators sent a strong message to global financial institutions.
Addressing the mammoth crowd, Odigie urged the IMF and World Bank to cancel Africa’s debt as a matter of social justice.
“We say enough is enough. The future of unborn African children cannot be mortgaged in the name of borrowing. We want a fair deal for African people. We call on the IMF and World Bank to cancel the debts of African countries,” he declared.
He argued that Africa deserves fair treatment, considering the historical exploitation of the continent by Western nations.
“The debt is suffocating Africa. When it comes to basic developmental needs, we are still at the bottom of the ladder. Why? Because a significant portion of our resources is being used to service debt instead of funding essential services. The cycle continues. We are saying to all our creditors: Let’s come to the table and take this debt away for the sake of Africa’s future and its children.”
Reports have stated that the weight of Africa’s debt crisis disproportionately affects women, particularly those in the informal economy. In some regions, up to 90% of female employment is in informal sectors such as trade, agriculture, handicrafts, and domestic services; areas where access to formal financing is severely limited. The debt burden exacerbates economic inequalities, cutting funds for social services and deepening poverty among women and children.
Beyond debt cancellation, ITUC-Africa also called for a restructuring of the global financial system to ensure fairness and transparency.
“Justice in debt matters. We call for fair and transparent debt restructuring, including the cancellation of unjust and odious debts that continue to weigh on African economies,” Odigie stated.
The rally also condemned tax evasion and wage theft, saying such are practices that deprive African workers of their rights and further entrench economic inequalities.
As the pressure mounts, African workers and trade unions remain firm in their demand, saying that “Debt relief is not charity, it is a necessity for economic justice and sustainable development.”
READ ALSO: African workers back India’s joint worker-farmer protest
and then