Debt Cancellation is Not Enough What would reparative justice require?

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Episode 2: Debt Cancellation is Not Enough

Why is debt cancellation alone insufficient to solve Africa's economic crises, and what deeper structural transformations are required? 

Debt Cancellation is Not Enough explores why debt cancellation alone cannot deliver economic justice. Drawing on African Futures Lab's Debt Cancellation Is Not Enough! report, the episode examines how debt is rooted in a global financial architecture shaped by colonial power relations, unequal decision-making, and extractive economic models.Joining the conversation is Grieve Chelwa, Associate Professor of Political Economy and Chair of Social Sciences at The Africa Institute. The discussion engages themes from his recent book, How the International Monetary Fund Strangles Africa, and explores the role of institutions such as the IMF and World Bank in perpetuating debt and economic dependency across the continent. Together, we discuss what reparative justice would require: restructuring global finance, redistributing financial power, reclaiming policy autonomy, and building more just economic futures.

In this episode, we cover:

  • Beyond short-term relief: Why debt cancellation without structural reform fails to stop future dependency. 
  • Global financial architecture: How power asymmetries within major institutions reinforce cycles of debt. 
  • State responsibility and accountability: Balancing demands on global institutions with sound, equitable domestic governance. 

Featured guest

Dr. Grieve Chelwa  (external link)- Associate Professor of Political Economy and Chair of Social Sciences at The Africa Institute, Global Studies University, and Non-Resident Senior Fellow at Tricontinental: Institute for Social Research. 

Moderator

Liliane Umubyeyi, PhD (external link) - Co-founder and Executive Director, African Futures Lab.  

This podcast season is a joint collaboration between the African Forum and Network on Debt and Development (AFRODAD) (external link) and African Futures Lab (Afalab) (external link).