Global Finance Ministers mull strategies for economic recovery

-Pakistan urges debt relief for developing economies

Foreign Desk Report

NEW YORK: A virtual meeting of finance ministers from 60 countries, including Pakistan, and representatives of international financial institutions on Tuesday discussed ways and means to deal with the social and economic chaos brought on by the deadly coronavirus pandemic.
The meeting was convened by UN Deputy Secretary-General, Amina Mohammed, the finance minister of Canada, Chrystia Freeland and her Jamaican counterpart, Nigel Clarke.
In her opening remarks, Amina Mohammed called for solidifying a “menu” of policy options for post-pandemic recovery and beyond, which will be presented to world leaders later this month. Although the crisis has affected everyone, Ms. Mohammed said the consequences will be worse for the world’s most vulnerable citizens.
“Between 70 to 100 million people could be pushed into extreme poverty; an additional 265 million people could face acute food shortages by the end of this year, and an estimated 400 million jobs have been lost: disproportionately, of course, affecting women”, she said.
Moreover, “some 1.6 billion learners have had their studies disrupted and may never return to school,” she continued, adding “finding immediate and lasting solutions is our responsibility”.