South African civil society has called on the government and the private sector to account for the country's rising global debt.
South Africa's debt crisis of US$170 billion has caught the ire of civil society organisations, which are calling for an end to unsustainable borrowing terms.
On Tuesday, various civil society organisations and community leaders gathered in Bruma, Johannesburg, to urge the South African government and the private sector to take a definitive stance on the country's escalating debt crisis.
This urgent call to action follows the launch of the global Freedom from Debt movement by the AIDS Healthcare Foundation (AHF) South Africa, which aims to address the crippling global debt systems that are hindering essential investments in healthcare, education, and public services.
According to the latest data, South Africa tops the list, with the South African Reserve Bank’s data showing external debt around US$170.5 billion in Q1 2025, helped by deep capital markets and longstanding foreign participation in local assets.
