مضمون کا ماخذ : کمپیوٹر لاٹری
Covid-19: PM tells rich nations to ‘do more’ for poor countries
Prime Minister Imran Khan on Thursday said as the Covid-19 pandemic has revealed the interdependence of nations, a joint action is essential to fight its triple challenge through vaccine supply, reallocation of International Monetary Fund (IMF) quotas by high-income states and adaptation of climate finance. In his virtual address to the UN High-Level Political Forum […]
Prime Minister Imran Khan on Thursday said as the Covid-19 pandemic has revealed the interdependence of nations, a joint action is essential to fight its triple challenge through vaccine supply, reallocation of International Monetary Fund (IMF) quotas by high-income states and adaptation of climate finance.
In his virtual address to the UN High-Level Political Forum (HLPF) on Sustainable Development held at the United Nations Headquarters in New York, the prime minister stressed that the universal and affordable access to Covid-19 vaccine is vital to defeat the virus and to revive global trade, investment and growth. “The global economy will not recover fully until all countries – rich and poor – are enabled to accelerate and expand investment for achieving the sustainable development goals and climate goals,” the prime minister said.
Imran Khan outlined his vision for dealing with the Covid-19 challenges, reversal of economic progress and the existential threat posed by climate change, and suggested measures for an effective response to build back better. He said the world must ramp up vaccine production, including in the developing countries, and ensure its rapid distribution.
The prime minister said adequate finance is important to mobilize the developing countries meet the triple challenge of Covid recovery, implementation of sustainable development goals (SDGs) and realization of environmental goals. He commended the excellent role played by the UN secretary general and the entire relief and recovery efforts of the UN system in the wake of the pandemic.
Imran Khan said the high-income countries injected $17 trillion to stimulate their economies while the developing countries were estimated to need at least $4.3 trillion to recover from the crises and implement the SDGs. They have so far, unfortunately, secured access to less than five percent of the amount, he added. He recalled that last September, he had proposed the creation of new IMF Special Drawing Rights (SDRs) as an effective way to generate development financing, and welcomed the agreement to create $650 billion in new SDRs. He endorsed the proposal of the IMF director general to enable the high-income countries voluntarily reallocate a part of their unutilized IMF quotas, and stressed its urgent approval.
He hoped that at least $150 billion would be reallocated to finance sustainable development projects and programmes in the developing countries through the IMF, World Bank, and other development banks and institutions. “The restructuring of high-cost debt is another essential instrument to provide fiscal space and development finance for the affected developing countries,” he added.
Imran Khan emphasized on fulfillment of the commitments made to provide concessional and grant finance to the developing countries, including the 0.7 percent Official Development Assistance (ODA) commitment, and the advanced IDA-20 window of $50 billion. “Similarly, fulfillment of the commitment made by developed countries to provide $100 billion per year in climate finance is vital, including for the success of the COP-26 in Glasgow,” he stressed.
