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Pakistani PM Imran Khan calls for allocation of special drawing rights of 500 billion to help developing nations

Pakistani PM Imran Khan calls for allocation of special drawing rights of 500 billion to help developing nations

Prime Minister Imran Khan has called for devising a viable framework forequitable and affordable supply of Covid-19 vaccine to developing countries.

He was addressing virtually the 4th Session of the United NationsConference on Trade and Development Intergovernmental Group of Experts onFinancing for Development on Monday.

The Prime Minister said coverage of the COVAX facility must be expandedenabling the developing countries to spend their precious resources onsocio-economic development needs.

Suggesting a five-point frame work to fight the pandemic and recoveringeconomies, he said debt re-payments for the most stressed countries shouldbe suspended until the end of the pandemic.

The Prime Minister said public-sector debt under an agreed and inclusivemultilateral framework should be restructured and concessional financingthrough multilateral development banks should also be expanded.

He called for general allocation of Special Drawing Rights of 500 billiondollars to help alleviate balance-of-payment pressures.

Imran Khan also stressed on world community to take measures for the returnof stolen assets held by corrupt politicians and criminals.

He said the developed countries should meet the agreed target of mobilizing100 billion dollars annually for climate action in developing countries.

Counting on Pakistan’s measures to combat Covid-19, the Prime Minister saidour efforts have been aimed at ensuring that we save people from dying fromthe virus, and at the same time preventing them from dying from hunger.

He said our strategy fortunately has worked well so far but continuousefforts are needed to fully overcome the second wave of the virus.