BLACKROCK: CANCEL ZAMBIA'S DEBT
Channel: Debt Justice
Date: 2022-05-03

On 13 April, BlackRock, the world's largest asset manager, announced it’s annual profits. 

BlackRock is one of Zambia’s biggest lenders. For the past two years, the Southern African country has been in debt crisis, leading to serious cuts in funding for public services. Zambia’s spending on social services fell by 21% between 2019 and 2021. 

Because of high interest rates, BlackRock is set to make huge profits on Zambia’s debts. They could make $180 million profit for itself and its clients if the debts are paid in full.

We wanted to send a message to Larry Fink: Zambian Kwatcha is not yours to play with, you must #CancelZambiasDebt.

Jubilee Debt Campaign are a part of the global movement for debt justice