President Lazarus Chakwera has called on the developed countries and money lending international institutions to consider canceling debts owed by struggling economies in order for them to achieve the Sustainable Development Goals (SDGs) by 2030.
Chakwera made the plea in his address to the 78th United Nations General Assembly (UNGA) in New York, United States of America on Thursday.
He said most Least Developed Countries (LDCs) such as Malawi are distressed with the burden of never-ending repaying of debts which has seen their economies failing to catch up with the economies of the developed countries.
He added that the idea of ending poverty by the year 2030 as advocated for in the SDGs will become another lip-service if the developing countries are not written off.
He emphasized: “We need decisions and actions on debt for most LDCS in distress because their debts are unsustainable. Our call, on behalf of all LDCs, on this matter remains the same: cancel the debt.”
The Malawi leader reminded world leaders that the UN family has made minimal progress in past years in terms of economic growth due to, among other things, the Covid-19 pandemic, natural disasters and the Ukraine war, emphasizing that it is the more reason the developing countries must relieved of their debts burden.
Speaking during the opening session of the 78th United General Assembly Conference UN General Secretary, Antonio Guterres said the global village needs to collaborate and work together to address the global challenges which are slowly crippling the global economy.
He condemned countries which are at war, conflicts and coups to consider engaging in contact and dialogue for peace to prevail and for the betterment of people at large.
This is President Chakwera’s second address to the UNGA and the call for debt cancellation is a follow-up to his maiden address in 2022 when he appealed to advanced economies to emulate the example of China forgiving African countries some of their debts.
Heads of state and governments have been deliberating to this year’s 78th UNGA under the theme “Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity progress and the sustainability for all.
Reported By Lisa Kadango Malango in New York, USA
