Finance minister Nirmala Sitharman on Thursday endorsed the view of the International Monetary Fund (IMF) that the key priority remains to end the Covid-19 pandemic and universal applicability of vaccines and medical solutions need to be ensured.
Addressing the plenary meeting of the International Monetary and Financial Committee (IMFC) virtually, she said IMF’s assertion that multi-speed economic recovery can potentially cause significant disruption in developing and low-income economies warrants cooperation and a coordinated policy.
She said the burden of economic transformation to a low carbon world is disproportionately higher for emerging market, developing and low-income economies. “We must focus on agreed principles of equity and differentiated responsibility of climate action,” she said.
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