ISLAMABAD: Prime Minister Imran Khan today (Monday) has called for devising a viable framework for an equitable and affordable supply of COVID-19 vaccine to developing countries.
The prime minister, in his keynote address at the fourth session of virtually held United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Group of Experts (IGE), presented a five-point agenda to address the structural barriers in global prosperity.
“The coverage of the COVAX facility must be expanded. This would enable the developing countries to spend their precious resources on socio-economic development needs,” the premier added.
He also called the pandemic an opportunity to address the structural barriers hampering global prosperity and development, suggesting the suspension of debt repayments for the most stressed countries until the end of the pandemic.
He also suggested that public-sector debt under an agreed and inclusive multilateral framework should be restructured and concessional financing through multilateral development banks should also be expanded.
The Prime Minister also called for the general allocation of Special Drawing Rights (SDRs) of 500 billion dollars to help alleviate balance-of-payment pressures.
Reiterating his decades-old stance of return of stolen assets held by corrupt people, he pointed out that the illicit financial outflows from developing nations caused more poverty in that world than any other factor.
“Reportedly, a staggering amount of 7 trillion dollars is parked in “haven” destinations. It is also reported that one trillion dollars annually leaves the developing countries for these haven destinations,” he added.
The fifth point of the proposed agenda was meeting the agreed target of mobilizing 100 billion dollars annually by developed countries for climate action in developing countries.
Counting on Pakistan’s measures to combat COVID-19, PM Imran said, “Our efforts have been aimed at ensuring that we save people from dying from the virus, and at the same time preventing them from dying from hunger.”
“Our strategy, fortunately, has worked well so far. However continuous efforts are needed to fully overcome the second wave of the virus and also at the same time to maintain and stimulate economic growth,” the prime minister concluded.
