Story by Yolanda Moyo
ZIMBABWE has reiterated its commitment to promoting a fairer and more inclusive global financial system, urging world leaders to take decisive action to bridge the US$4 trillion financing gap needed to achieve the Sustainable Development Goals (SDGs).
The call was made during the inaugural Biennial Summit for a Sustainable, Inclusive, and Resilient Global Economy, held on the sidelines of the United Nations General Assembly (UNGA) in New York on Wednesday.
Represented by Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, Zimbabwe highlighted that the debt distress continues to weigh on fiscal space, constraining investments in essential sectors such as health, education, and climate resilience.
Minister Ncube further noted that Zimbabwe is pressing ahead with its debt restructuring and arrears clearance programme, which, alongside global debt sustainability initiatives, will anchor macroeconomic stability and drive inclusive growth.
Highlighting the infrastructure challenges facing land-linked countries, Professor Ncube welcomed the Seville Commitment proposal for an Infrastructure Investment and Financing Facility under the Awaza Programme of Action.
He said Zimbabwe’s ongoing upgrade of highways, border posts and airports will gain momentum if the facility is quickly operationalised – unlocking trade potential and accelerating industrialisation.
The summit, the first of its kind, brings together world leaders, policymakers, and financial institutions to chart the way forward with regard to financing sustainable development.
