LILONGWE-(MaraviPost)-Corruption coupled with lack transparency and accountability in public resources management is said to be worsening heavy debts in most Africa countries.
This is despite Africa continent being rich with nature resources for economic growth.
African Forum and Network on Debt and Development (AFRODAD) head of the delegation Afshin Khan observes that debts cancellation is only one step towards African countries economic stability.
Khan emphasized the need for African countries to put in place proper debt management systems while accountability and transparency on public resources usages are encouraged.
She was speaking on Thursday, June 19, 2025 after official opening of the two day African International People’s Tribunal in the capital Lilongwe.
AFRODAD in conjunction with the Malawi Economic Justice Network MEJIN) and other partners is holding the Tribunal focusing on the consequences of policies propagated by International Monetary Fund and World Bank.
“Let’s African countries address issues of transparency and accountability on how public resources are being used.
“Heavy debts are being accumulated to serve personal agenda other than of the general public where corruption take center stage,” Khan observes.
She added, “Those calling debt cancellation must look into mechanisms that services the debts particularly towards development agenda.
“Debt cancellation isn’t enough to restore economic growth in developing nations but uprooting completely corruption”.
MEJN Vice Board Chairperson Reverend Innocent Chikopa expressed worrisome that there are a number of policies that have forced African countries to reduce spending on essential services due to the doubling of debt servicing.
Reverend Chikopa also observed that debt has hindered economic growth in African countries and increased inequalities, demanding that African countries speak with one voice.
But one the country’s prominent civil society activists, Mavuto Bamusi called for the abolition of the International Monetary Fund (IMF) and the World Bank in Africa.
Bamusi argued that the two institutions have enforced failed policies that have locked African nations in a cycle of poverty.
He cited several policy frameworks—such as privatization and structural adjustment programs—as having contributed little to the continent’s development.
Bamusi called on African presidents to unite and demand the IMF and World Bank “pack and go.”
African International People’s Tribunal in Lilongwe, focusing has attracted delegates from various backgrounds, drawn from at least 10 African countries.
The Tribunal is expected culminate in a commission of inquiry into allegations levelled against World Bank and IMF.
On the first day, a panel of judges heard testimonies from victims on how IMF and World Bank policies have trapped African nations in a cycle of indebtedness, hindering their growth.
The panel is expected to make a verdict for further action at the end of inquiry on Friday, June 20, 2025.