African debt crisis: a human rights perspective

This article explores how globalisation is challenging activist groups that use a human rights framework that has traditionally been used to hold national governments accountable for human rights violations. In the face of globalisation, people’s rights are increasingly threatened by problems that are often beyond the control of national governments, how are activities facing this challenge? How are they International Financial Institutions and donors accountable? Are activists still using human rights framework to address these challenges?

In the absence of any positive movement towards unconditional debt cancellation, Africa continues to be burdened with an unmanageable debt overhang which is hampering the continent’s economic growth. The biggest challenge facing Africa today continues to be one of how to increase and widen economic growth and pace of development in order to improve the standard of living for the majority of its people. This challenge will only be met by a people-centered development paradigm which inevitably requires that scarce productive resources be harnessed and channeled to sectors and activities capable of promoting increased production, employment and equitable distribution of the outputs. Resource outflows, including debt service is a drain on financial resources for development should be eliminated; financial inflows need to be directed to stimulating sustainable development.

With no convincing solutions offered by international creditors there is clearly a need for a continued focus on the debt problem. Various strategies need to be adopted by civil society organisations in the future. These include strengthening the options for establishment of global governance structures such as the international arbitration court, finding channels and institutions to whom such issues as illegitimate debt, the plight of debtor countries in terms of debt repayment against access to health and education as a rights issue could be presented.