Chakwera calls for debt cancellation

Chakwera calls for debt cancellation
Chakwera calls for debt cancellation

Africa-Press – Malawi. President Lazarus Chakwera has pleaded with developed countries to support poor countries through debt cancellation, saying countries like Malawi are under pressure because their debts are unsustainable.

Chakwera made these remarks when he was delivering the Malawi National Address to the 78th United Nations General Assembly (UNGA) Conference in New York.

He said natural disasters, climate change, global pandemics, poor economic recovery have heavily affected African countries to reach the timeline and ably achieve the Sustainable Development Goals (SDGs) by 2030.

“Without changing our decisions, our positions, and our actions, the future we speak of today and the sustainable development we dream of achieving by 2030, will only remain a reality on paper, we need urgent action,” said Chakwera whose country has a debt of about K7 trillion.

“What we need is decision and action and debt cancellation. What Least Developed Countries like Malawi are in, is distress because their debts are unsustainable hence calling for an action to cancel the debts inorder to make progress and achieve the Sustainable Development Goals SDGs by 2030,” he emphasized.

He also reminded member states of the United Nations that they have collectively failed to take bold decisions towards global solidarity, peace and prosperity.

According to Chakwera, this is the case because to date, the world still sustain a manipulated global social, trade and economic systems that favour only a few. On the structure of the United Nations, Chakwera fervently asked for radical reforms towards inclusivity.

He said Africa must have a permanent membership slot with veto power in the UN Security Council so that the continent should be assured of a permanent voice that will fully protect its interests.

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