BlackRock vs Zambia

Now is the age of social responsibility, and large businesses coming under public scrutiny (I hope).?BlackRock - the world’s biggest investor, managing $10 trillion - is turning on one of its debtors: Zambia - a country crippled by a debt crisis.?Numerous examples in recent years have shown us that poor country debt is a symptom of corruption - corruption in London and New York just as much as in Lusaka.?While I write this & you read it, Blackrock, and other huge investment companies deepen human suffering as they?enrich the pension plans of people like myself.

Zambia’s debt payments are currently costing that country more than her spending on health, education and social provision combined.?Father Alex Muyebe, Chairperson of the Zambian Civil Society Debt Alliance, has said: “Both lenders and the previous Zambian government are responsible for plunging Zambia into the current debt crisis. The debt burden is increasing poverty in Zambia, preventing us from tackling and recovering from the pandemic and dealing with crises caused by rich countries such as climate change”.

Credit Global Justice Now & Jubilee Debt Campaign

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