ActionAid Calls for Stronger CSO Voice on Debt Cancellation, Loss and Damage Fund
ActionAid Malawi urges civil society to intensify campaign for debt cancellation and support the Loss and Damage Fund for climate-affected countries.
LILONGWE, MALAWI — ActionAid Malawi's Executive Director, Pamela Kuwali, has urged civil society in the country to intensify their campaign for debt cancellation to support the realisation of the Malawi 2063 agenda, writes Fletcher Simwaka.
Kuwali made the comments at a conference on debt and development organised by the Malawi Economic Justice Network.
Kuwali highlighted the connection between the debt crisis and climate change, emphasising that the government's borrowing for the agriculture sector, which is vulnerable to climate-induced disasters, contributes to the country's economic challenges.
Currently, 35 percent of Malawi's national budget goes towards servicing debt, which stands at over K7.9 trillion.
"As ActionAid, we have found out that there is a nexus between the debt crisis and climate change. Government borrowing for agriculture, which is prone to climatic shocks, has led to countries most affected by climate change also facing debt crises. So the only way out for Malawi is debt cancellation," said Kuwali.
Kuwali also called on conference delegates to strengthen their voice in advocating for the operationalization of the Loss and Damage Fund.
This support would aid adaptation, recovery, and resilience efforts in countries like Malawi that are heavily impacted by climate change.
The operationalization of the Loss and Damage Fund is expected to be a key topic at CoP 28, scheduled to take place later this year in Dubai.