Life Over Debt and Poverty in Africa: The Real Story
In Africa, debt servicing payments are siphoning millions of dollars that would otherwise have gone towards funding education, healthcare, and other services. This presentation will explore the complicated issue of Third World debt and debt relief.
Wednesday, March 01, 2006
12:00 PM - 1:30 PM
10383 Bunche Hall
Los Angeles, CA 90095
- In 1970, the world’s poorest countries (roughly 60 countries classified as low-income by the World Bank), owed $25 billion in debt. By 2002, this amount was $523 billion.
- For Africa, in 1970, it was just under $11 billion. By 2002, that was over half, to $295 billion.
- $550 billion has been paid in both principal and interest over the last three decades, on $540bn of loans, and yet there is still a $523 billion dollar debt burden.
- Kristin Sundell - Jubilee USA Network
- Besinati Mpepo - Civil Society for Poverty Reduction (CSPR) in Zambia
- Ntando Ndlovu - Zimbabwe Coalition on Debt & Development (ZIMCODD) in Zimbabwe
The American Friends Service Committee was founded by Quakers in 1917 and its mission and achievements won worldwide recognition in 1947 when it accepted the Nobel Peace Prize with the British Friends Service Council. Life Over Debt, a national campaign of the AFSC, highlights the need for immediate cancellation of Africa's debt. In partnership with the Jubilee USA Network, AFSC adds its voice to the millions around the globe who call for dropping the debt!
Cost: Free and open to the public; parking is available for $8 in lot 3
For more information please contact
Sponsor(s): African Studies Center, American Friends Service Committee