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'How do we make debt sexy?; I’ll be honest with you – that's a question I never thought anyone would ask me. Let alone a former First Minister.
But that is exactly the question Humza Yousef MSP asked when we hosted a panel on the global debt crisis as part of the Edinburgh Finance Festival. What he was driving at was the need to get people talking about this again, the way we were around the Jubilee Debt campaign of the 1990s.
For decades, hope has united us in the fight against poverty and injustice.
Debt never will be a ‘sexy’ topic, but it's a topic that should make us morally outraged.
Yet again we are seeing the results of a global system that puts profit before people, permits irresponsible lending, and allows private creditors to make astronomical profits from some of the world’s poorest countries. 60% of African nations are spending more on debt repayments than they are on health care and education.
Once again we're seeing investment in a generation come second to servicing an unsustainable debt. Debt, like unfair trade, and tax dodging, facilitates a flow of wealth from the poorest to the richest, meaning more resources and money leaves poorer nations than ever reaches them in aid.
Private creditors want to lend to countries which are considered ‘riskier’ as they can charge significantly higher rates of interest than they can when lending to the USA or European nations. All countries borrow but some countries, through no fault of their own, are more vulnerable to economic upheaval. When this happens it makes sense that they would need to restructure their debts. The greed of private creditors is stopping them from doing this and climate shocks, the invasion of Ukraine and Covid all meant that poorer nations had to borrow more.
Join our campaign to ask the UK government to stand up to reckless polluters and greedy lenders.
The Biblical imperative for justice is clear, as is the radical concept of jubilee.
The act of jubilee was a resetting, to ensure that no one could be caught in a poverty trap without means to escape it. That's why we are calling for the UK Government to force private creditors (many of whom are governed by English law) to come to the table and renegotiate the debt. Renegotiating debt is something businesses or individuals get the chance to do, so we are asking that countries are afford the same opportunity. So far private creditors are refusing.
It's this kind of egregious flow of wealth from poor to rich, that results in underfunded health and education systems, and means that governments are unable to invest in infrastructure or climate resilience. Poverty, hunger, lack of services and viable economic opportunities fuel conflict. We were recently awarded another grant from the Scottish Government’s Humanitarian Fund to scale up the support our partners in South Sudan can offer to returnees and refugees who are fleeing violence in Sudan. The provision of cash grants enables the local markets to function and allows people to buy what they need.
Spotlight on hope this Christmas
This Christmas, we're spotlighting the work of our partners in the Democratic Republic of Congo, who are doing similar work - supporting those who have fled violence and are facing hunger. People, often women, in camps trying desperately to create a viable future for their families.
As we approach advent, we once again wait. Wait for the coming of the Christ. Of God breaking into our lives with a message of love, peace, hope and justice. If you write cards, you might want to drop your MP and MSP one encouraging them to work for justice, for all people, here and across the world.
Thank you for all the support you have given us in this 80th year. As we look forward to 2026, please do put our supporter Gathering into your diary – it's a chance to hear more about the depth of our work and start thinking ahead to Christian Aid Week.
Your support is, as always, much appreciated. I wish you a very peaceful Christmas when it comes.
