AHF says Commonwealth debt crisis demands urgent UK action

By Anan Geolengs

Ahead of the UK’s G20 Presidency in 2027 and the Commonwealth Heads of Government Meeting, CHOGM, in Antigua and Barbuda this November, the AIDS Healthcare Foundation, AHF, has called on the UK to lead with concrete action to address the sovereign debt crisis in the Commonwealth.

While CHOGM will be held under the theme ‘Accelerating Partnerships and Investment for a Prosperous Commonwealth’, AHF said the reality is stark: one in three Commonwealth countries is in debt distress, and the majority of global debt contracts are governed by UK law.

Globally, 3.4 billion people live in countries that spend more on debt servicing than on health and education combined.

These nations also face borrowing costs that are 2 to 10 times higher than those of wealthier countries. Across the Commonwealth, 21 countries spend at least 14% of government revenue on debt repayments.

“The global debt crisis is upheld by a financial architecture that is inequitable, extractive, and rooted in colonial legacy,” said Michael Weinstein, AHF President.

“The UK has a unique opportunity to demonstrate honest leadership by championing systemic reforms that enable Commonwealth members to achieve genuine prosperity. It must protect borrowing nations in the Global South against private creditors who weaponize its legal system to force repayments. This includes enforcing legislation that curbs predatory lending and prevents creditors from undermining debt relief efforts.”

AHF’s call comes after the UK’s Foreign, Commonwealth and Development Office announced up to 90% cuts in UK aid to countries including Malawi and Mozambique — nations already facing severe fiscal constraints that prevent investment in social protection.

“We cannot claim to be a Commonwealth of Nations when many member states are trapped in a debt cycle that impoverishes them and destabilizes their economies,” said Dr. Penninah Iutung, AHF Executive Vice President.

“The debt crisis is no longer just a financial issue. It is a security and development issue. It must be treated with the same urgency as any pandemic. The Global South must also unite to sustain the push for debt reform, drawing on the ideals of independence and anti-colonial movements.”