…as the Network on Debt and Development links the development to civil unrests experienced in some parts of Africa
From BUUMBA CHIMBULU in Maputo
MORE than 27 African countries are currently paying more on debt servicing as compared to other investments in social sectors such as health and education, resulting in citizen unrests in some parts of the region.
Many of these countries are paying back the debt to their creditors, instead of investing money in economic sectors, according to the Network on Debt and Development (AFRODAD) Executive Director, Jason Rosario Braganza.
At the three-day fourth edition of the African Conference on Debt and Development (AfCoDD IV) in Maputo yesterday, Mr Braganza highlighted the civil unrests that had been caused by the continued extensive debt servicing with governments not investing in areas benefiting citizens.
The conference is being held under the theme: “Africa’s Debt Crisis: Pan-African Feminist Perspectives and Alternatives.”
“It is very important, that we need to understand how issues of public debt affect citizens, because when we have a lot of debt, many countries are having to pay the debt back to their creditors, instead of paying money and investing money in public services like health, education and other public services,” Mr Braganza said.
“The conference this year is very important because over 27 African countries are paying more in debt servicing than they are in investments in health and education, the debt servicing burden is getting very difficult and you can see there’s a lot of citizen unrest.
A lot of citizen unhappy that we’re spending so much money on debt servicing instead of investing in our public services. We’ve seen protests across the continent, we’ve seen protests across the world, and so it’s important that we have this conversation,” he said.
Mr Braganza also noted the significance of holding the conference in Mozambique as that was where the Maputo Protocol was signed by the European Union member states to promote contributions of the budget into investments for gender-related activities.
He explained that the conference would discuss and understand how far the Maputo Protocol had gone in advancing the status of women on the African continent, stating that they were a big contributor to the economic success and the economic transformation of the continent.
“So, we’re extremely pleased to be here for the next three days to talk about issues of public debt, issues of public finance, and how we as a continent, we as a people, can move towards becoming rule-makers and not rule-takers, because we need to fix the system that causes us to be in all this debt.
“We need to fix the system to make sure that our citizens live in a situation of dignity, with human rights, with access to public services. So it is my esteemed pleasure to be here with all of you, and to be here with the friends in Mozambique to celebrate this very important moment,” Mr Braganza noted.
The AfCoDD IV has been organised by AFRODAD, together with the Nawi Afrifem Macroeconomic Collective (Nawi), the Centre for Democracy and Human Rights, and the Stop the Bleeding Campaign.
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