Zambia’s Debt Crisis

.... ZCCB Launches Campaign for Debt Cancellation and Economic Justice

By Francis Maingaila

Lusaka, Zambia – The Zambia Conference of Catholic Bishops (ZCCB) has launched the Jubilee Debt Cancellation Campaign, calling for urgent global action to relieve Zambia of its unsustainable debt burden.

The campaign aligns with Pope Francis’ call for Jubilee Year 2025, which advocates for debt relief, social justice, and economic renewal for struggling nations.

Speaking at the launch of the economic justice initiative, ZCCB President Bishop Ignitius Chama emphasized that Zambia’s mounting debt crisis continues to hinder national development and trap millions in poverty.

He stressed that the campaign seeks to free Zambia from the economic constraints imposed by heavy debt, enabling the country to focus on sustainable development.

"Zambia remains trapped in a cycle of debt that limits progress and social welfare," Bishop Chama said.

"This campaign calls for global solidarity in advocating for meaningful debt relief so that our country can focus on sustainable development."

Zambia’s Debt Burden and the Need for Urgent Action

According to Bishop Chama, Zambia, like many developing nations, is struggling under the weight of external debt, significantly limiting its ability to invest in critical sectors such as education, healthcare, and infrastructure.

The bishop noted that debt burden, exacerbated by global economic imbalances, systemic inequalities, and poor financial governance, must be addressed urgently.

"The call for debt cancellation is not just an economic demand—it is a moral and ethical necessity. As Pope Francis has repeatedly emphasized, the current debt crisis facing developing nations is a barrier to social and economic justice," he said.

The ZCCB’s advocacy for debt relief is part of a broader campaign to ensure economic fairness, transparency, and sustainable development in Zambia.

Without significant debt relief, the country will continue to struggle with poverty, limited public services, and economic stagnation.

ZCCB’s International Advocacy Efforts

The Jubilee Debt Cancellation Campaign will engage international creditors, financial institutions, and economic bodies to push for Zambia’s debt cancellation.

As part of this effort, ZCCB will present Zambia’s case at the G20 Summit in South Africa and the G7 Summit in Canada later this year.

The campaign will also collaborate with organizations such as CAFOD (UK), SCIAF (Scotland), the World Bank, and COMESA to advocate for debt relief at the international level.

The Role of Governance in Debt Management

While advocating for debt cancellation, Bishop Chama cautioned that Zambia must also improve its financial governance.

He emphasized that debt relief must be accompanied by transparency and accountability to ensure that funds are used for the benefit of all Zambians.

"While we advocate for debt cancellation, we also call for responsible financial management," Bishop Chama said.

"We cannot afford to repeat past mistakes of mismanagement."

The ZCCB outlined several key principles for responsible economic management, including:

Strict oversight of debt acquisition to prevent reckless borrowing.

Independent assessments of loan agreements to align with international best practices.

Transparent debt management and public reporting, including regular publications detailing debt status, loan usage, and repayment plans.

Independent audit mechanisms to evaluate debt utilization and efficiency.

Utilizing digital tools for real-time tracking of financial transactions to ensure public access to accurate information about government expenditures.

Bishop Chama also called for greater public involvement in debt oversight, urging the engagement of civil society organizations, economic experts, and faith-based institutions in debt discussions.

He proposed the establishment of inclusive policy forums to ensure economic decisions reflect public interests and the implementation of feedback mechanisms for citizen participation in financial governance.

Mobilizing National and International Support

Locally, the campaign seeks support from the government, opposition parties, civil society organizations, faith-based institutions, and the private sector to strengthen Zambia’s appeal for debt relief.

The Jubilee Debt Cancellation Campaign will involve a series of public marches, signature endorsements, and formal presentations to global economic forums.

Bishop Chama urged all Zambians to rally behind the initiative, emphasizing that debt relief is not just an economic necessity but a moral imperative.

"We must act with urgency and conviction," he said. "Zambia deserves an opportunity to break free from this financial burden and build a future rooted in economic dignity and justice."

A Call to Action for Global Leaders

With Zambia still grappling with financial constraints despite government-led debt restructuring efforts, ZCCB has called on global leaders, financial institutions, and faith-based organizations to support the campaign.

The Church has reiterated Pope Francis’ message of economic justice, urging world leaders to "act justly, love mercy, and walk humbly with God" (Micah 6:8).

"This is more than a financial movement—it is a call for moral responsibility, ethical leadership, and the restoration of human dignity," Bishop Chama stated.

He urged the Zambian government to take a firm stand on financial reform and called on international creditors to recognize the need for fair and just economic policies.

"The time for action is now. Let us demand debt cancellation, economic reform, and a brighter future for Zambia," Bishop Chama concluded.

This latest call for debt relief by the Catholic Bishops adds to the growing pressure on both local and international financial institutions to address Zambia’s economic challenges.

With the 2025 Jubilee Year approaching, ZCCB hopes its advocacy will contribute to tangible financial reforms that uplift the nation’s most vulnerable populations.