GITFiC Calls for Debt Swaps to Advance Reparatory Justice

The Ghana International Trade and Finance Conference (GITFiC) has welcomed the position expressed by UK Prime Minister Andy Burnham regarding Britain’s historical involvement in the Trans-Atlantic slave trade and his openness to considering a formal apology.

According to GITFiC, the position represents an important step towards historical accountability and engagement with the enduring economic consequences of slavery.

The organisation said the development resonates with deliberations at its 10th Annual Meeting, held in Accra on October 14, 2026, which marked the 3rd Global Debt Initiative.

At the meeting, speakers advanced the proposition of reparatory justice as a tool for debt swap, stressing the need to translate historical acknowledgement into practical financial solutions for African and Caribbean countries.

GITFiC said debt swaps, as a potential expression of financial reparation, could provide an innovative pathway towards converting eligible debt obligations into investments in development, infrastructure and economic transformation.

While acknowledging the distinction between an apology, debt restructuring and financial reparations, the organisation encouraged the UK Prime Minister to give further consideration to the role of debt swaps in advancing meaningful reparatory justice.

GITFiC maintained that reparatory justice must go beyond acknowledgement, adding that its true significance lies in the economic opportunities and transformative outcomes it can deliver for affected nations.

Margaret Adjeley Sowah, ISD