The Ghana International Trade and Finance Conference (GITFiC) has called on the United Kingdom to consider debt swaps as a practical mechanism for advancing reparatory justice for African and Caribbean countries affected by the trans-Atlantic slave trade.
The organisation welcomed comments by UK Prime Minister Andy Burnham on Britain’s historical involvement in the slave trade and his openness to considering a formal apology, describing the position as an important step towards historical accountability.
In a statement, GITFiC said the development reflected discussions at its 10th Annual Meeting in Accra on October 14, 2026, which marked the Third Global Debt Initiative.
The meeting explored the potential of reparatory justice to address the economic consequences of slavery, with participants proposing debt swaps as a possible means of translating historical acknowledgement into tangible financial support for affected countries.
GITFiC said debt swaps could provide an innovative approach to converting eligible debt obligations into investments in development, infrastructure and economic transformation.
The organisation noted that such arrangements could help countries redirect resources towards critical development priorities while addressing some of the economic challenges associated with historical injustices.
While acknowledging the distinction between a formal apology, debt restructuring and financial reparations, GITFiC urged the UK Prime Minister to give further consideration to debt swaps as part of efforts to advance meaningful reparatory justice.
It said historical acknowledgement was important but should be accompanied by practical measures capable of delivering lasting economic benefits to affected nations.
GITFiC maintained that reparatory justice should extend beyond expressions of regret to include initiatives that create opportunities for sustainable development, strengthen economic resilience and support the long-term prosperity of African and Caribbean countries.
The organisation said its Global Debt Initiative, under the GITFiC Agenda 2031, seeks to promote innovative approaches to sovereign debt challenges and support sustainable financing solutions for Ghana, Africa and the wider Global South.