African groups want their governments to fight back against the World Bank and IMF. These organizations say the two financial giants push policies that hurt Africa. The groups formed the African International People's Tribunal to speak out. They plan to blame the World Bank and IMF for making debt problems worse across the continent. Several advocacy groups joined forces to create this movement.
The tribunal will listen to stories about how these policies damage African development. Leaders from different countries will share their experiences. The groups want debt cancellation and major changes to current systems. They believe the World Bank and IMF care more about getting money back than helping people. The hearing takes place over two days.
Africa borrowed much more money during the past ten years. Government budgets grew from 255 billion dollars to 523 billion dollars between 2014 and 2024. Debt jumped from 375 billion dollars to over 1.8 trillion dollars during the same period. Countries with debt problems increased from 25 percent to 46 percent between 2013 and 2023. Africa remains the only region where debt grows faster than the economy.
The tribunal will listen to stories about how these policies damage African development. Leaders from different countries will share their experiences. The groups want debt cancellation and major changes to current systems. They believe the World Bank and IMF care more about getting money back than helping people. The hearing takes place over two days.
Africa borrowed much more money during the past ten years. Government budgets grew from 255 billion dollars to 523 billion dollars between 2014 and 2024. Debt jumped from 375 billion dollars to over 1.8 trillion dollars during the same period. Countries with debt problems increased from 25 percent to 46 percent between 2013 and 2023. Africa remains the only region where debt grows faster than the economy.
