Resilient policies and strategies are crucial for Least Developed Countries (LDCs) to enable them jump start the economy after the devastation caused by Covid-19, Malawi’s Vice President Saulos Chilima said on Tuesday.
Chilima was speaking when he participated in a session on rethinking structural transformation in African Least Developed Countries (LDCs) in the era of technological advancement and innovation.
The session was part of the on-going virtual Africa Regional Review meeting which Malawi is hosting ahead of the 5th UN conference of LDCs.
President Lazarus Chakwera opened the meeting on Monday while committing Malawi’s desire to graduate from LDC’s through sound economic policies.
Since Monday up to Friday, participants are sharing ideas to advance economic transformation with Vice President Chilima chairing one of the sessions on the day.
On Tuesday, Chilima partcipated in a session chaired by Maria Jose Torres March, United Nations Resident Coordinator in Malawi discussing structural transformation in African LDCs.
“Resilient policies and strategies are crucial for LDCs in order to put the economies on track after the Covid 19 pandemic,” said Chilima,who is also Minister of Economic Planning and Development and Public Sector Reforms, citing long term economic growth strategies by both governments and the private sector.
The LDC community is made of 33 African countries and Haiti from the Caribbean.
Meanwhile, President Chakwera has said in his y next Covid-19 update on Sunday, which will be his last until further notice, he will outline the measures his Administration has developed to cushion the poor against the economic aftershocks of the pandemic, to revitalize the business sector, and to get the nation back on track with an agenda for transforming Malawi.