End the Global Debt Trap: Freedom from Debt Now, says AHF
As part of the global Freedom from Debt campaign launch, nearly 50 AIDS Healthcare Foundation (AHF) country teams and partners will commence multiple in-person and virtual advocacy actions that call for urgent reforms to a global debt system that prevents developing countries from investing in healthcare, education, and other basic human needs.
Debt injustice demands a global system that prioritizes people over profit and ensures countries can meet the basic needs of their populations. The Freedom from Debt campaign calls on global leaders to:
The developing world’s sovereign debt crisis is driven by unjust global financial rules, colonial-era economic structures, and the dominance of multilateral institutions (e.g., World Bank, International Monetary Fund) and private creditors. Today, 3.4 billion people live in countries that are forced to spend more on debt servicing than on health or education, paying interest rates two to ten times higher than wealthier countries, which diverts resources meant for health systems, education, and climate resilience from poorer to richer countries.
“Far too many developing countries are being held back by an unfair, oppressive global debt system that undermines their ability to invest in their people and their future,” said AHF Oluwakemi Gbadamosi, Deputy Executive Director of theAHF Global Public Health Institute and Director of the AHF Public Health Institute for Africa. “AHF’s Freedom from Debt campaign calls for bold action to reform this broken system and ensure all nations have the opportunity to advance health, prosperity, and human dignity.”
