The United Nations (UN)says the Malawi economy which has been ailing for a long time is now on its way to recovery thanks to President Chakwera’s dedicated efforts toward economic transformation.
UN Coordinator for Malawi, Rebecca Adda-Dontoh, expressed this sentiment during a meeting at Kamuzu Palace, where the UN Country Team convened with President Lazarus Chakwera.
The discussions revolved around the formulation of the UN Sustainable Development Cooperation Framework 2024-2028, signed last November, aimed at accelerating the realization of both Malawi’s Vision 2063 and the Sustainable Development Goals (SDGs) over the next five years.
In remarks shared with The Shire Times, Adda-Dontoh praised Chakwera’s administration for its focused approach to the economic transformation agenda.
“I wish to commend you, and the government on the focused approach to the economic transformation agenda, including but not limited to the implementation of mega farms, agriculture commercialisation, special economic zones [SEZ] programme and the Malawi carbon market initiative [MCMI],” said Adda-Dontoh.
Adda-Dontoh commended the Chakwera-led government for successfully securing a new Extended Credit Facility (ECF) from the International Monetary Fund (IMF), noting that it would aid in reinstating macroeconomic stability and propelling the country towards growth.
The four-year ECF, sanctioned last September, amounts to $174 million. Furthermore, the IMF agreement has opened the door to various other forms of aid, thereby stabilizing the exchange rate market and alleviating pressure on the kwacha.
“I also wish to appreciate government measures, with the support of development partners, to cushion the vulnerable from the adjustment effects and impact of shocks,” Adda-Dontohadded.
Thereafter, she underscored the UN’s commitment to support inclusive and sustainable economic reforms to accelerate progress towards the achievement of SDGs and Malawi 2063.
Adda-Dontoh also congratulated the Malawi Government for becoming one of the four countries to establish an independent national peace institution, the Malawi Peace and Unity Commission.
Reacting to the UN commendations, President Chakwera extended his deep appreciation to the UN family, stressing that Malawi has continued to enjoy a “symbiotic” partnership with the UN since gaining independence in 1964.
Said the President: “As we look ahead, our efforts must be well coordinated and focused. We must advocate for inclusive economic growth, agriculture, mining, trade and tourism and also diversify our economic base. It is moving beyond paperwork, or computer work to action, action and more action.”
The fresh UN cooperation framework outlines an ambitious agenda aimed at expediting development strides. It is built upon four key strategic pillars: bolstering diversified, sustainable, and inclusive economic growth; enhancing institutional governance; promoting sustainable investments and advancements in human capital development; and addressing climate change, mitigating environmental degradation, and facilitating energy transformation.
