Imran proposes 10-point action plan to avert economic collapse

International | Written by : IANS| Updated:

Imran proposes 10-point action plan to avert economic collapse

Islamabad, Dec 4 (IANS) While addressing a special UN General Assembly (UNGA) session on the Covid-19 pandemic, Pakistan Prime Minister Imran Khan proposed a 10-point action plan to avert an economic collapse in several developing countries due to the ongoing global health crisis.

Khan made the remarks on Thursday as he virtually joined nearly 100 world leaders at the two-day session on the response to raging pandemic, reports The Express Tribune.

In his address, Khan also stressed the need for reforming the international financial architecture; building an inclusive and equitable debt management mechanism; constructing a democratic SDG-focused trading system; and installing a fair international tax regime.

The premier said that the pandemic has caused immense human suffering, but added that the poorest countries and the poor in all the countries are suffering the most.

"Nearly 100 million people in developing countries will fall back into extreme poverty," he warned.

"I am sure other developing countries in our position are facing a similar dilemma. How to stimulate the economy and yet at the same time reduce our budget deficit?

"The only way we can have the fiscal space to maintain and revive growth is through access to additional liquidity," the Prime Minister added.

Khan further said that "if economic collapse is to be averted in a number of developing countries due to the Covid-19, the international community must identify and implement some key priority actions".

"Without economic security, conflicts and disputes will persist and proliferate across the world," he said.