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The minister highlighted the importance of making debt servicing more manageable and scaling up affordable, adequate, and accessible financing to enable developing countries to achieve their Sustainable Development Goals (SDGs)
Tanzanian Minister for Finance, Dr Mwigulu Nchemba, has called for comprehensive reforms in the international financial system to make it more inclusive and responsive to the needs of developing countries. Dr Nchemba made the statement over the weekend while participating in the 3rd Voice of Global South Summit, hosted by India recently.
Dr. Mwigulu Nchemba underscored the need for greater representation of developing nations in decision-making processes within international financial institutions. The Tanzanian minister argued that adapting international financial policies to address the unique challenges of developing nations, such as climate change, poverty, and inequality, is essential.
The minister highlighted the importance of making debt servicing more manageable and scaling up affordable, adequate, and accessible financing to enable developing countries to achieve their Sustainable Development Goals (SDGs).
The 3rd Voice of Global South Summit, which brought together 123 countries of the Global South, including India, was held under the theme “An Empowered Global South for a Sustainable Future.”
The summit focused on addressing a range of complex challenges disproportionately affecting developing countries, such as conflicts, food and energy security crises, and climate change.
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In his inaugural speech, Indian Prime Minister Modi called for unity among countries of the Global South, urging them to learn from one another, share capabilities, and transform their resolutions into collective success.
