Debt choking developing countries, impeding industrialisation – Mthuli

DEVELOPING countries are grappling with heightened debt vulnerabilities and this is hindering development and industrialisation in Southern African Development Community (SADC), Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube has said.

Addressing delegates at the Southern Africa Development Community Industrialisation Week (SIW) in Harare this morning, Mthul said:

“It is apparent that developing countries are grappling with heightened debt vulnerabilities as indicated by subdued solvency and liquidity indicators.

In this regard, debt restructuring initiatives and more effective implementation debt relief programmes such as the G20 framework would free-up financial resources which can be channelled towards industrialisation, drive economic progress and development.

Previous

Sadc Industrialisation Week Day One in pictures

Next
“In fact, we have argued in other fora globally, that the G20 framework needs to be reformed.”

Against this background, Mthuli said, it was imperative to reform the global financial architecture to support the industrialisation agenda in the region.-ebusinesswekly