Formulate well-coordinated roadmap to face Covid crisis: PM to world leaders

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Prime Minister Sheikh Hasina on Friday urged world leaders to formulate a well-coordinated roadmap to face the crisis due to the Covid-19 pandemic.

"The Covid-19 pandemic has generated a multifaceted global problem and it ought to be addressed globally. We need a well-coordinated roadmap to handle this crisis," she said while nearly inaugurating the 14th international conference of the Finance Ministers of ASEM member countries.

Bangladesh hosted the meeting almost that your Prime Minister opened by delivering a pre-recorded video message.

The theme of the 14th ASEM Finance Ministers Meeting is “Addressing Covid-19: Ensuring a Strong, Sustainable, Inclusive and Balanced Recovery”.

Sheikh Hasina expressed her optimism that the world will get effective vaccines against Covid-19 soon. She's needed making the vaccines available at free of costs for all countries.

"We’re hoping that the world will probably get effective vaccines soon. They must be made designed for all countries, especially the LDCs and developing ones, at cost free. The rich countries and, the MDBs and IFIs should come forward with generous support in this regard," she said.

Concerted efforts for recovery

The Prime Minister urged the rich countries, Multilateral Development Banks (MDB) and International FINANCE INSTITUTIONS (IFIs) to come forward.

Emphasising greater collaboration to conquer any hurdle in relation to prosperity in this difficult time, she said that collaboration, not isolation, might help overcome any crisis.

The advanced economies must fulfill their unmet promises concerning duty-free and quota-free market access, and technology support for developing countries, the Prime Minister said.

Urging the G-7, G-20, OECD countries, MDB and IFIs to play their essential roles to bail out the afflicted LDCs and developing nations, she said, "They’ll have to come forward with increasing fiscal stimulus, concessional finance, and credit card debt relief measures."

The Prime Minister said that the Covid-19 pandemic has already established devastating impacts on medical systems and the economies of most countries.

She said minimal developed and developing countries, specifically, are the worst-hit by the pandemic and a the greater part of the persons is suffering from the increased loss of income and employment.

Sheikh Hasina mentioned that poverty is worsening and medical sector is facing serious challenges, while progress in obtaining SDGs and hard-earned prosperity of all countries are in stake.

‘Bangladesh economy bouncing back’

About Bangladesh’s efforts for advancing its economy, the Prime Minister said, Bangladesh achieved sustained high growth in the last one decade and in addition attained tremendous progress in a few socio-economic indicators.

She mentioned that the federal government also adopted “Vision 2041” aiming to elevate Bangladesh to an upper-middle-income country by 2031 and a developed one by 2041, she said adding that the united states was well on track to achieve SDGs.

However the pandemic made a serious dent on the advancements despite her government’s all-out efforts to contain the spread of coronavirus, she said, noting that a large stimulus package was presented with to recuperate from the monetary losses.

Sheikh Hasina elaborated that her government has up to now announced 21 stimulus packages equal to USD 14.14 billion for various sectors and also support to different segments of the society.

She said that after suffering a short setback for a couple months, the economy has started recovering.

In this regard, she highlighted the most recent trends in the export, remittance and agricultural production which indicate that the economy is currently getting back on track towards the sustained growth path.

Finance Minister AHM Mostafa Kamal gave the welcome address, while vice presidents of World Bank and ADB, along with the IMF’s Deputy Director for the Asia-Pacific region, delivered keynote speeches at the conference.

Finance Ministers, Advisors on the Ministry of Finance and concerned representatives of the ASEM member states including Germany, Spain, Poland, Bulgaria, Thailand, Japan, China, Myanmar, Indonesia and Singapore are taking part.

Source: http://www.theindependentbd.com

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