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Africa: How Could Countries Finance Reparations for Historical Injustices?

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Calls are mounting for governments to pay reparations for slavery, colonialism and other crimes, but such projects are often dismissed as unworkable. New research explores the options for making reparations a reality, including debt cancellation and redirecting financial sanctions.

Debt relief is one of the most viable ways to deliver restitution to African countries in particular, according to Nasim Salad, senior associate at The Advocacy Team, which co-authored"It's something of real concern at the moment," she says."Debt relief can free up a lot of resources and allow countries to spend their money on their own social sectors.

As well as cancelling debt, it recommends repurposing financial sanctions to channel assets from perpetrators to victims. "An FTT is essentially a tax that's applied to the purchase or sale of financial instruments such as stocks or bonds," Salad explains.

 

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