Prime Minister Imran Khan called on rich countries to mobilize sufficient financial resources to help developing countries confront the triple challenge of recovering from Covid-19, implementing the Sustainable Development Goals, and achieving environmental goals.
PM also asked all countries that produce COVID-19 vaccines to increase production and work to guarantee that they are quickly disseminated around the world, notably to developing countries
Imran Khan said there were synergies in the three challenges that should be used to “build back better” in a video message delivered at the United Nations High Level Political Forum (HLPF) on Sustainable Development.
“High-income countries have been able to invest $70 trillion into their economies to invigorate them. Developing countries, on the other hand, are predicted to require at least $4.3 trillion to emerge from their crises and put this in place. Unfortunately, they have only been able to gain access to fewer than 5% of the total,” he established.
He recalled that he had proposed the creation of new IMF special drawing rights as a viable means of generating development financing, and that it was critical that high-income countries voluntarily reallocate a portion of their unutilized IMF quota, which he said should be approved as soon as possible.
