Market News

Malawi President Lazarus Chakwera has said in New York, before the first part of the fifth UN Least Development Countries (LDC) meeting, that "the economies of LDC nations are at risk from climate change events that are happening in quicker succession than before." The suffocating onslaught is happening while LDCs, already choking from the unsustainable debt burden, is racing toward the U.S.$1 trillion mark.
Chakwera described how his country suffered deep wounds in 2019 at the hands of Cyclones Idai and Kenneth and while those wounds are still fresh, it was attacked again by tropical storms Ana and Gombe in the last seven weeks leaving a trail of destruction and death. Chakwera said that the Covid-19 pandemic has increased poverty levels in Least Developed Countries by 35% in the past two years.
Source: Nyasatimes