Official of Bishops’ Conference in Southern Africa Urges G20 Leaders to Courageously Reform Global Debt System

He said that the leaders can also ensure that private lenders participate in just restructuring; end the “use of public funds to protect private creditors who refuse to share responsibility” and reform international financial institutions “so that the debtor nations have a true and dignified voice.”

At the summit that SACBC organized in collaboration with Caritas Africa, Caritas South Africa, and SACBC Justice & Peace, Fr. O’Connor emphasized that G20 leaders have the financial and political muscle to ensure that the global debt system reforms are realized.

The one-day event that brought together Church leaders, academia, UN agencies, civil society, youth and women representatives to address Africa’s escalating debt crisis and its impact on education, health, climate action and social well-being was held at Birchwood Hotel, Petit Centre in Johannesburg.

The 19 countries of the G20 include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom (UK), and the United States (U.S.). Other entities are the EU, and from 2023, the AU.

In his November 19 presentation, Fr. O’Connor blamed the escalating debts in Africa on corruption and weak governance in some countries within the world’s second largest continent.

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He found it unfortunate that some leaders in Africa fail to account for wealth accumulated in foreign banks.

“In all of this game playing, the lives of the poor are being sacrificed to meet unjust and unsustainable interest payments demanded by foreign external creditors. This is not just an economic crisis… but … a moral crisis as well,” he said.

Fr. O’Connor said that the suffering of the poor people on the continent is made worse by a deeper global injustice, the unjust debt system that drains life from many nations.

“Today more than 50 countries spend more on foreign debt repayments than on health, education, or other essential services,” he said.

The SACBC Secretary General referred to the ongoing  Catholic Church’s Jubilee Year, and urged the G20 leaders to use their “power to let justice flow, and to turn debt into hope.

In doing so, he said that they will make “this jubilee year a true year of liberation for those who carry the burden of debt, of poor education, of health care crises, of the unjust distribution of wealth and resources, not just in Africa but across the world.”

“In this jubilee year, where Pope Francis proclaimed it, the world has been invited to return to God's way of healing,” he said, and added, “In Scripture, jubilee is a time when debt is forgiven, when burdens are lifted, and communities are restored.”

The jubilee year, O’Connor further explained, “is a reminder, not just to the faith community, but to be proclaimed to all people, that God's justice is always orientated towards healing, liberation, and recovery, and justice should follow suit.”

Silas Mwale Isenjia is a Kenyan journalist with a great zeal and interest for Catholic Church related communication. He holds a Bachelor’s Degree in Linguistics, Media and Communication from Moi University in Kenya. Silas has vast experience in the Media production industry. He currently works as a Journalist for ACI Africa.