CPG on International Development: Prospects for debt justice in Zambia

CPG on International Development: Prospects for debt justice in Zambia

25th October 2022, 18:00

Zambia, among other countries, is facing a debt crisis. The Zambian government has been spending more money on debt payments than on health, education, sanitation and social protections combined. The IMF have recently approved a $1.3bn loan which follows months of negotiations between Zambia’s main creditors, which include France, the UK and China. Meanwhile nearly half of Zambia’s debt is owed to private creditors.

Scotland has a long historical connection to Zambia and funds the Zambia Development Programme. The meeting will hear from Shona Riach, UK director of the IMF, about recent negotiations; options for debt restructuring; the role of private creditors and the potential future prospects of Zambia. Eugene Kabilika, former director of Caritas Zambia, will present on the impact of the economic crisis and public spending cuts in Zambia, and what more can be done to secure the country’s future. Line Christensen, director of Jubilee Scotland, will discuss the urgent need for large-scale debt cancellations to support economic recovery in the global south. The speakers will also address the impact of the current economic crisis, and what state actors and civil society can do to support global debt justice.

The meeting will begin with the CPG AGM.

Speaker biographies

Line Christensen, Executive Director, Jubilee Scotland

Dr Line K. Christensen is the Executive Director of Jubilee Scotland - an organisation which has been campaigning against unjust debt for over 20 years. Line joined Jubilee Scotland in 2019 and has led the organisation’s work on Climate Debt, Public Private Partnerships and Zambia's Debt Crisis. Line holds a PhD in Political Science and a post-graduate degree in Development and International Relations.

Eugene Kabilika, Former Executive Director, Caritas Zambia

A human rights activist with more than 20 years experience, Eugene has been involved in paralegal work and generally access to justice work since the mid-90s. He mobilised communities in the Southern Province of Zambia to campaign for cancellation of Zambia’s external debt for Jubilee 2000. Eugene was director of Caritas Zambia director from 2016 until this year. He is currently involved with the CSO Debt Alliance in Zambia as a member and the Zambia Alliance for Agroecology and Biodiversity. Eugene is a member of Zambian Land Alliance and board chairperson for the Paralegal Alliance Network in Zambia.

Shona Riach, Executive Director UK, International Monetary Fund

Shona Riach joined the IMF in 2018 as Executive Director for the UK. Previous roles include Europe Director at the Home Office and Director International at HM Treasury. The IMF has a key position in promoting the health of the world economy. Established in 1944 as a part of the United Nations system, the IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to buy goods and services from each other.

 

The event is free and open to anyone to attend but you must register in advance.

 

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