African workers’ organisations, joined by civil society groups and partners, have called on creditor nations to cancel debts owed by African countries.
The demand was issued during a peaceful protest in Accra, organised under the umbrella of the International Trade Union Confederation (ITUC-Africa). Demonstrators said debt cancellation is critical to free up resources for social services, job creation and economic recovery in African nations.
African trade unions and civil society handed over their petition to the Ghanaian Minister of Finance. The petition calls for unconditional debt cancellation as an act of reparative justice, alongside reforms for transparency, fairness, and Africa’s financial sovereignty. The… pic.twitter.com/x1XyRDHX1E
— ITUC-Africa // CSI-Afrique (@ituc_africa) August 29, 2025
In a statement by the General Secretary of ITUC-Africa, Ghana TUC and the Stop the Bleeding Network, debt cancellation should not be recognised as charity but “as reparative justice, addressing centuries of exploitation and restoring Africa’s fiscal sovereignty.
“In line with the African Union Lomé Declaration on Debt and the ITUC-Africa Position Paper on Debt (August 2025), we call on Ghana to deliver this petition to all creditors with the following demands.”
The demands, according to the statement, include total and unconditional cancellation of Africa’s unsustainable external debts as an act of reparative justice, saying that freed resources must be channelled into jobs, wages, social protection, climate resilience, and structural transformation.
“A stand-alone UN Sovereign Debt Workout Framework, replacing the failed Common Framework, with strict timelines, automatic standstills, binding participation of private creditors, and a neutral tribunal.
“An African Doctrine on Debt, exempting climate, resilience, and security spending from debt sustainability tests, recalibrating thresholds to reflect growth and demographics and ensuring automatic standstills during shocks.
“Africa’s financial safety nets by 2027. Operationalise an African Monetary and Stability Fund, an African Financial Stability Mechanism, and an African Credit Rating Agency to counter creditor bias.
“Transparency and accountability. Publish every loan agreement, release quarter debt-versus-social spending scorecards, enforce parliamentary approval and independent union and civil society audits for all borrowing. Parliamentary oversight for all borrowing is also required,” Comrade Odigie stated.
Other demands contained in the statement include “Curb predatory practices. Outlaw vulture funds, compel all creditors (bilateral, multilateral, private) to provide comparable treatment in restructurings.
“Mobilise domestic resources fairly. Broaden the tax base by taxing the high-net-worth individuals, cancel wasteful exemptions, curb illicit financial flows, and issue US$50 billion in climate and social bonds by 2030.
“One African voice in global forums for secure, permanent African representation on global financial bodies, fairer SDR allocation, and climate and labour tests in all lending.”
In a letter to the Ghanaian president, as the country hosting the protest, the statement said that Ghana has historically stood at the forefront of Africa’s liberation struggles.
It is said that by transmitting the petition to Africa’s creditors, Ghana can reaffirm Africa’s leadership in demanding a fair and just global financial order.
“More than half of African countries are already in or at high risk of debt distress. In many states, debt service consumes over 50 per cent of government revenues, leaving governments unable to finance essential services such as health care, education, wages, and social protection.
“In Ghana, Zambia, Kenya and beyond, debt repayments have repeatedly outstripped social spending. This is not just a financial challenge; it is a human development and democratic crisis,” it said.
The statement also emphasised that the current debt system in Africa reflects deep historical and structural injustices.