ISLAMABAD: Prime Minister Imran Khan participated in and addressed a high-level video conference themed ‘Financing for Development in COVID-19 Era and Beyond’ on Thursday via video link hosted by the Canadian and Jamaican PMs and the United Nations General Secretary, ARY News reported.
Addressing the participants of the high-level United Nations event, PM Imran Khan said that a concerted global effort was required to defeat and endure the global pandemic of coronavirus.
The premier discussed debt vulnerability of developing countries which is one of the six interlinked financial issues being discussed at the event.
Read More: PM Imran Khan, Abu Dhabi crown prince discuss Covid-19 pandemic
Making note of how the economy at home had suffered since the pandemic struck, PM Imran Khan said: “The poor segments of the society have been worst affected. The government launched various programmes to provide relief to them.”
He stressed that the world will not recover from this recession if a major part of the world’s population is wallowing into poverty, he added that unlike western countries, nations in the developing world did not have the fiscal space to revive their economies and look after their underprivileged.
“The government had doled out $8 billion to stimulate the economy and provide cash to the most vulnerable sections of society, but the country’s falling exports and remittances are adding to the pressure,” he mentioned.
The package was meager in comparison with huge stimulus packages given by USA, Germany, Japan, UK and other developed countries to their populations said the premier.
He also said that the money that was to be spent on climate change and development programmes was diverted towards corona pandemic.
Read More: Developing countries face dual challenge of fighting poverty, pandemic: PM
He also added that in his discussions with leadership of Ethiopia, Nigeria and Egypt he found out that all of them were also facing similar difficulties.
“I welcome the G20 initiative of providing debt relief to various developing countries in these tough times, but the help to the developing world has to be much bigger than it has been envisaged, there is need for a global solution,” Prime Minister Imran Khan concluded.
The Presidents of France, SouthAfrica, Kazakhstan and the Prime Ministers of UK, Italy, Norway, Ireland, Japan, the German Chancellor and the Crown Prince of SaudiArabia will also address the high-event.
