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Call for debt cancellation

    JOHANNESBURG

    Kaire Mbuende, the executive secretary of the Southern African Development Community (SADC) on Thursday called on the G-7 countries to cancel the debt of the SADC member states Malawi, Mozambique, Tanzania, Zambia and Zimbabwe.

    Speaking to reporters in Namibia, Mbuende said it was unfortunate that the G-7 countries, through the International Monetary Fund (IMF), have so far only identified Mozambique as qualifying for a debt write off.

    "In addition to Mozambique, Malawi, Tanzania, Zambia and Zimbabwe
    currently spend about 80 percent of their gross domestic product each on debt servicing annually," Mbuende said. He added: "Debt is too harmful to the poorest of our communities, therefore, I am appealing for total debt write-off for these four countries."

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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