Malawi President Lazarus Chakwera and the United Nations (UN) Director General Antonio Guterres, on Sunday took a swipe at developed countries, accusing the wealthy world of deliberately an unfair global economic and financial system which they argue has exacerbated "historic injustices" across the globe.
Nyasa Times Malawi President Lazarus Chakwera and the United Nations Director General Antonio Guterres, on Sunday took a swipe at developed countries, accusing the wealthy world of deliberately an unfair global economic and financial system which they argue has exacerbated"historic injustices" across the globe.
Making an honest assessment, Guterres told the conference that LDCs are today trapped in vicious cycles that make development in these poorest countries very challenging. He continued:"A thriving business community and the creation of decent jobs is challenging if economies are stuck in first gear -- exporting raw materials without opportunities for structural transformation to rapidly move up the value chain."
He noted that fossil fuel giants are raking in huge profits, while millions of livelihoods in LDCs cannot put food on the table.
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