Chakwera says the world’s poor must be supported to contribute to global economy

The world’s poor countries must be supported to develop to middle–income status in order to contribute to the health and stability of the global economy, Malawi President, Dr. Lazarus Chakwera has said.

Chakwera made the statement Thursday in his closing statement as chairperson of the global coordination bureau of Least Developed Countries (LCD’s) at the closing session of the fifth United Nations (UN) Conference on Least Developed Countries in Doha, Qatar.

He explained that if poor nations fail to migrate to the middle–income status and fall behind in achieving Sustainable Development Goals (SDGs), it will spell disaster for the global community.

Chakwera making his closing remarks

Chakwera said: “I therefore can’t emphasize this enough. The least developed countries must be the next to develop. This is non-negotiable. This is imperative. This is urgent,” says the erstwhile LDCs chair.

“If that does not happen and our nations fall behind in achieving Sustainable Development Goals, it will spell disaster for the global community and be a failure for the entire UN Family, and that is a failure no UN Member must find acceptable.

The Malawi leader said that poor countries are finding it difficult to migrate to the middle–income status because they have been hit hard by Covid-19 pandemic, the impacts of climate change events and the disruptions triggered by the war in Eastern Europe and as such requires both multilateral collaboration and cooperation.

Chakwera added that building stronger and deeper partnerships among the global community to implement the transition of LDCs to middle-income status is the urgent task of today.

“The global economy is a one ship sailing on turbulent waters and that even though every nation’s economy is a separate cabin on that ship, there is no economy that is independent of the others,” emphasized the Malawi leader.

According to Chakwera, for the poor countries to achieve the middle–income status, rich countries must fulfil the historic commitments to allocate between 0.15 percent and 0.20 percent of their national GDP as ODA for the least developed countries as well as honoring the pledges made in the areas of trade, FDI and technology transfer.

“It includes the work we must do as member states to create strong national ownership of the Doha Programme of Action.

“It includes the scaling up of support from development partner countries, multilateral development banks, and private sector towards increasing the productive capacity of LDCs to accelerate their progress towards graduation.

President Chakwera said this includes the work that must be done by financial institutions to ease access to resources by LDCs for the implementation of the Programme.

“It includes the work that must be done by civil society and the media to champion the interests and priorities of LDCs in their coverage of this summit and to hold duty bearers accountable for the pledges they have made here and in the past.

In short, President Chakwera said, now that there is a work plan in place, it is important that everyone must work according to the dictates of the plan.

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