PM Imran urges high-income countries to help poor nations recover from crises

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ISLAMABAD – Prime Minister Imran Khan on Tuesday asked the developed countries to come forward to help poor nations in economic recovery as they are facing three-pronged challenges of COVID recovery, implementation of Sustainable Development Goals (SDGs) and realization of environmental goals.

Virtually addressing the UN High-Level Political Forum on Sustainable Development the premier said: β€œThe global economy will not recover fully until all countries are enabled to accelerate and expand investment for achieving the SDGs and climate goals”.

“Adequate finance must be mobilized to enable the developing countries to meet the triple challenge of COVID recovery, SDGs implementation and realization of environmental goals,” he added.

He said the richer nations have been able to inject 17 trillion dollars to boost their economies, while the developing countries are in dire need of at least 4.3 trillion dollars to recover from the crises and implement the SDGs. He said they have so far, unfortunately, secured access to less than 5 percent of this amount, state broadcaster reported.

Imran Khan said the high-income countries voluntarily re-allocate a part of their unutilized International Monetary Fund quotas, and this should be approved urgently.

“The international trade regime must provide all developing countries with equitable and preferential access to global markets,” he said.

He highlighted that universal and affordable access to COVID-19 vaccine is essential to defeat the virus and to revive global trade, investment and growth.

The premier said that the world must ramp up vaccine production, including in the developing countries, and ensure its rapid distribution.

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