Story by Stanley James
VICE President General (Rtd) Dr Constantino Chiwenga says Zimbabwe is seeking inclusion in the Group of Twenty (G20) Common Framework for debt resolution to unlock new funding for ongoing development projects.
Zimbabwe is among the nations invited to participate in this year’s G20 Global Leaders’ Summit hosted in South Africa, where discussions on socio-economic development are taking centre stage.
Delivering a speech at the Summit, the Vice President who is representing President Emmerson Mnangagwa, said the inclusion of Zimbabwe in the G20 debt resolution system will restore multilateral financiers’ confidence in the economy.
“The G20 Common Framework for debt treatment requires significant strengthening, in view of this , Zimbabwe seeks inclusion and active participation in the improved G20 Common Framework for the debt treatment process, we are ready to engage constructively to that end, the journey for inclusive and sustainable growth demands political will and unwavering commitment to equitable development, let us reaffirm our corrective commitment to build a stronger,fairer, greener and more human global economy that leaves no one behind,” he said.
While Zimbabwe, like any other global economy, has not been spared from global headwinds, developing economies are being urged to focus on sustainable growth-oriented policies.
“Today as we open this G20 Leaders Summit, South Africa is deeply aware of the profound responsibility that membership of the community of nations places upon us, as a founding member of the G20, South Africa has sought to ensure that the development priorities of the Global South and the African continent, find expression firmly and permanently on the agenda of the G20. This is important not only for the people of Africa and the Global South, it is vital for global stability and security, alleviating resource pressures, managing population movements and reducing the risk of conflict, we seek stability because it attracts investment, improves planning and reduces the risk of global economic shocks,” South Africa President, Cyril Ramaphosa said.
Zimbabwe is using its invitation to participate in global economic discussions to seek deeper regional integration and engage in bilateral meetings with other nations and the G20 host.
Key issues for this year’s Summit, which is being held for the first time in Africa, include debt reforms, inclusive economic growth, climate finance and harnessing natural resources.
