PAKISTAN NEWS: Coronavirus Prime Minister Imran Khan launches UNGA 10-point plan to overcome economic crisis

ISLAMABAD: Prime Minister Imran Khan says the COVID-19 epidemic is the most serious problem in the world since the second world war.

He expressed the belief on Friday to world leaders at a two-day conference convened by the United Nations General Assembly to discuss a cohesive approach to recovery from the epidemic.

It will be delivered by 141 speakers, including 53 heads of state, 39 heads of state, four deputy ministers and 38 ministers on pre-recorded videos.

The Prime Minister gave them a clear address, in which he highlighted the 10-point agenda to prevent developing countries from collapsing economically as a result of the coronavirus epidemic.

This agenda has highlighted the need for debt relief, the drawing of $ 500 billion in rights and the return of stolen goods from rich countries.

The 10-point agenda of Prime Minister Imran Khan

  1. The suspension of low-wage debt and the most depressed countries until the end of the epidemic.
  2. Debt cancellation of developed countries.
  3. Debt restructuring of the developing world public sector under an international multi-stakeholder framework.
  4. A general grant of special rights to draw $ 500 billion.
  5. Expansion of approved currencies in low-income countries by various development banks.
  6. The construction of a new ‘financial support and sustainability’ facility to provide temporary loans at low cost.
  7. Fulfillment of 0.7% official development assistance commitment.
  8. To promote the required $ 1.5 trillion annual investment in sustainable infrastructure.
  9. Achieving an agreed target of $ 100 billion a year for climate change in developing countries.
  10. Immediate action to stop the massive illegal outpouring of money from developing countries to rich countries, to tax havens and at the same time, the immediate repatriation of their stolen property by corrupt politicians and criminals returns to these lands.

‘100 million people in the developing world will return to extreme poverty’

The premier said an estimated 100 million people in developing countries would return to extreme poverty, with rich countries investing $ 13 trillion as financial incentives to revive their economies.

He spoke of the need for an urgent financial support program in developing countries. He said the epidemic had caused much human suffering and had caused the deepest recession since the 1930’s.

“Developing countries do not have the resources to pay for major economic… They are struggling to find even the $ 2-3 billion they need to recover from the epidemic,” he said, urging the international community to identify and implement some of the key priorities to avoid the economic crisis.

He assured the UNGA president that his 10-point solution would benefit the poorest countries above all other combined measures.

The virus has infected an estimated 65 million people so far and killed an estimated 1.5 million people and the poorest and poorest nations are the poorest, he said, adding that whenever the vaccine is available, it will be given to everyone.

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