wfn.org | SOUTHERN AFRICA: PRIMATE SPEAKS OUT ON DEBT

[Audrey Whitefield <a.whitefield@quest.org.uk>]

Sept. 5, 1997
ANGLICAN COMMUNION NEWS SERVICE
Canon Jim Rosenthal, Director of Communications
Anglican Communion Office
London, England

[97.9.1.3]

SOUTHERN AFRICA: PRIMATE SPEAKS OUT ON DEBT

(CPSA) What follows is a statement by the Primate of Southern Africa,
the Most Revd Njongonkulu Ndungane, regarding Mozambique and the highly
indebted poor country initiative - issued in support of representations
to be made to the IMF and World Bank during meetings next week.

The foreign debt retarding progress in developing countries has become
untenable.  This is particularly the case in those countries in which
there has been steady progress in addressing issues that affect economic
growth.

In line with many other developing countries, Mozambique has made
dramatic progress in the recent past in stabilising its economy and
creating new potential for real growth.  Recent reports by financial
journalists who have investigated the situation in Mozambique have
spoken of a pending economic boom as new investors enter both the urban
and rural areas.  There is reason to believe that this will also result
in an improvement in the quality of life of all the people of
Mozambique.

This is underscored by the experience of the Church of the Province of
Southern Africa (Anglican), which has two diocese in Mozambique  -   the
Diocese of Lebombo and the Diocese of Niassa.   While extreme poverty
still exists, there is evidence to suggest that a steady improvement is
taking place in the wellbeing of the people of what has been regarded as
the poorest country in the world.

I am on record as having called for the repudiation of foreign debt of
developing countries, so that they can be left unfettered to build on
the new foundations that are being laid for economic growth.  I have no
doubt that such a step, in terms of the Highly Indebted Poor Country
Initiative (HIPC), would have a dramatic, positive impact on the economy
of Mozambique and on the lives of its people.  Indeed,  such a step
would also have a positive effect on the economies of other countries in
the region, as Mozambique is poised to play an influential role in the
development of the sub-continent as a whole.

A renaissance is taking place in many African countries, not least in
Mozambique.  The time is now ripe for the debts of countries involved in
this period of economic rejuvenation to be released from the stifling
effects of international debt by having them cancelled and declared
odious. In this way Africa will be able to take its destiny into its own
hands and contribute still further to the socio-economic empowerment of
people and nations as we enter the new millennium.