Below are five major reasons why Jubilee-Zambia continues
Total Debt Cancellation: Even after the Jubilee Year 2000 and after qualifying for debt relief under HIPC, the debt crisis is still with Zambia. The challenges raised in the Pastoral Letter of 1998 that the debt burden was economically exhausting and blocked future development has not been met. Because of this, we urge all Zambians and our external supporters to continue demanding for the total cancellation of Zambia’s foreign debt and that of other countries for purposes of eradicating poverty!
Zambia’s Qualification to the HIPC Initiative: Jubilee-Zambia is greatly concerned with the real implications of the HIPC initiative in Zambia, especially for the majority poor. The results from a recent study indicate that HIPC in its current form will not benefit Zambia either socially or economically. For this reason, Jubilee-Zambia will continue to lobby for a much better HIPC package that will respond to the needs of the majority poor. The major concern of Jubilee-Zambia on HIPC is that it is not a cure to Zambia’s current debt crisis. HIPC is primarily a creditor’s plan to assure sustainable debt servicing and not a debtor’s plan to assure sustainable development.
Debt Mechanism: Yes, Zambia has qualified for some debt relief but there is an urgent need to ensure that debt relief resources are properly utilized for the benefit of the poor in an open, transparent, participatory and accountable manner. Therefore, Jubilee-Zambia will continue to lobby for setting up of a system that would ensure that Government, civil society, donors and Parliamentarians work together to ensure that debt relief in Zambia benefits the poor.
Loan Procurement Procedure: While Zambia has accessed debt relief, it will still continue borrowing and will be expected to service debts. Jubilee-Zambia questions the suitability of the existing loan procurement procedure in Zambia. Lack of transparency, openness, public involvement and information are the main problems that Jubilee-Zambia has recognized on the issue of loan procurement. Therefore, working with key stakeholders, Jubilee-Zambia will advocate for the establishment of clear policies and regulations on the procurement of new loans. This will enable Zambia avoid future debt traps.
Reparations: Jubilee-Zambia has joined other Jubilee movements in the southern region of Africa in addressing some of the historical experiences that have impacted negatively on the development of countries in this region and created serious debt problems. One key issue is the case of “Apartheid-caused Debt”. There is growing evidence that the reign of apartheid in South Africa imposed big pressures within that country and on the neighbouring states. The Zambian Government used huge resources and borrowed heavily to meet the cost of opposing apartheid and supporting liberation movement in the region. As a region, it is time we demanded reparations for this unethical debt burden.