By Isaac Jali
Vice President Dr Michael Usi has called for more global solidarity and international cooperation in addressing funding gaps that are holding back many developing countries from meeting the Sustainable Development Goals.
Dr Usi made the remarks in Sevilla, Spain, when he addressed the Financing for Development Conference which is underway. He told the conference that as a result of financing gaps and debt burden, many countries are failing to deliver on development for their people.
The VP said Malawi fully supports the notion of a just, equitable and transformative global financing framework. He said scaling up development financing can improve living conditions of people in most countries.
Dr Usi told the conference that Malawi wants to become an inclusively wealthy, industrialised and self-reliant country by 2063 hence it is prioritising ending poverty, hunger and enhancing domestic resource mobilisation by among others, ensuring strong and progressive tax systems, which integrates the informal sector and improving public expenditure efficiency. While on trade, Dr Usi urged for fair multilateral trade rules and market access.
The Vice President also commented on calls to reform international financial architecture to ensure the system equitably delivers development aspirations of all countries. Dr Usi said there is need for voices of developing countries in decision making spaces including multilateral development banks. He cited heavy interest rate loans as one of the burdens holding back progress in development for many countries.
“We need debt relief, highly concessional loans and official development assistance as essential for countries like Malawi facing the impact of climate change,” said Dr Michael Usi.
Secretary General of the United Nations, Antonio Gueterez, also calls for global tax system that benefits all not just a few countries.
Later, Vice President Dr Michael Usi attended a meeting for Least Developed Countries to discuss the climate and its effects on development of the LDCs.
He called on developed countries and financing institutions to fulfill their pledges on climate financing, arguing that time for mere promises is long gone. He observed that climate change continues to inflict suffering especially in Africa hence the need for financing resilient programs.
The VP also held bilateral talks with Luxembourg Minister, Xavier Bettel, on ways of strengthening bilateral relations.
Thorgendur Katrin Gunnarsdottir, Minister of Foreign Affairs for Iceland also had bilateral discussions with Dr Usi where she thanked the Government of Malawi for working with Norway over the past 36 years in areas of education and health. She disclosed Iceland’s intention to extend its support to Malawi through vocational training.
“Having played our part in health and education sectors in Malawi, we now intend to provide vocational training for the youth, as this is good for youth economic empowerment,” she said.
The 4th Financing for Development enters its 3rd day on Wednesday.
