- Akram says if the COVID disease is not controlled, it would further impede the economic recovery in the developing countries and slow down the global recovery
- Developing countries need fiscal space and significant additional liquidity for the revival of the economy: Envoy
(Karachi) Pakistan's Permanent Representative to United Nations Munir Akram has renewed call for ensuring equitable access and distribution of coronavirus vaccine to control deadly pandemic for quick recovery of world economy, local media reported.
In a virtual address to a session of Geneva-based Intergovernmental Group of Experts on Financing for Development on Thursday, Akram said if the COVID disease is not controlled, it would further impede the economic recovery in the developing countries and slow down the global recovery.
The Pakistani envoy said that developing countries need fiscal space and significant additional liquidity for the revival of the economy.
He urged an action on Pakistan Prime Minister Imran Khan’s five-point proposal which calls for equitable supply of COVID-19 vaccine to developing countries and suspension of debt repayments for most stressed countries until end of pandemic.
Munir also stressed need for fully supporting COVAX Facility for vaccine distribution by funding 20 billion shortfall as soon as possible. Noting that debt solution may be a slow process, he suggested provision of larger concessional financing from multilateral development banks and the International Monetary Fund.
He pointed out that mobilisation of domestic resources can also contribute through national capital markets, and support for national bond issues.