Activists demand Blackrock cancel Zambia's debt
Channel: Peoples Dispatch
Date: 16/08/2023

Activists from organizations such as the People's Forum, Friends of the Congo, ANSWER Coalition, Friends of Swazi Freedom, Black Men Build and many others, protested outside the global headquarters of investment firm BlackRock in New York City to demand it cancel Zambia's debt. 70% of Zambia's debt is held by Western institutions, and 220 million is held by investment giant BlackRock. In 2021, Zambia was diverting half of its entire public income to paying its external debts. Activists argue that BlackRock, which is worth USD 10 trillion, could easily cancel the debt and allow Zambia to develop.