Campaigners calling for the cancellation of African debt staged a protest in Ghana\u2019s capital.<\/p>\n
The event on Friday \u2014 which RFI said was attended by hundreds \u2014 was organized by Ghana\u2019s Trades Union Congress and the International Trade Union Confederation-Africa. The organizers, in a petition handed to Ghana\u2019s finance minister, said \u201ctotal and unconditional cancellation of Africa\u2019s unsustainable external debts\u201d would be \u201can act of reparative justice<\/a>.\u201d<\/p>\n Africa\u2019s external debt doubled from over $500 billion in 2020 to more than $1 trillion in 2024, according to a\u00a0UNDP report<\/a>\u00a0published last month. It said at least 22 African countries are currently in, or at high risk of, debt distress. And sub-Saharan Africa\u2019s average debt-to-GDP ratio stood at nearly 60% by the end of 2024. Campaigners say high debt servicing costs and the IMF\u2019s focus on austerity measures\u00a0erodes public health care and education systems<\/a>.<\/p>\n Ghana is emerging from its worst economic crisis in a generation, which included a 2022 debt default that prompted a $3 billion loan from the IMF. Ethiopia and Zambia have also turned to the IMF following sovereign defaults in the last few years.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Campaigners calling for the cancellation of African debt staged a protest in Ghana\u2019s capital. The event on Friday \u2014 which RFI said was attended by hundreds \u2014 was organized by Ghana\u2019s Trades Union Congress and the International Trade Union Confederation-Africa. The organizers, in a petition handed to Ghana\u2019s finance minister, said \u201ctotal and unconditional cancellation […]<\/p>\n","protected":false},"author":1,"featured_media":17658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":2,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Semafor","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[28,29,32,2362,31,30,27],"tags":[],"class_list":["post-17657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-east-africa","category-economy","category-featured","category-north-africa","category-southern-africa","category-west-africa"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/17657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=17657"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/17657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/17658"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=17657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=17657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=17657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}