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Kamal for coordinated action to fight Covid-19

Finance minister AHM Mustafa Kamal - File photo
Finance minister AHM Mustafa Kamal - File photo

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Finance minister AHM Mustafa Kamal has underscored the need for taking a well-coordinated global effort to tackle the challenges from the impacts of Covid-19 pandemic.

He said the United Nations can take the lead in these tough times while the G-7, G-20, OECD countries, and multilateral financial institutions need to act properly.

Mr Kamal made the remarks on Tuesday night at a virtual meeting of finance ministers of different countries, organised by the United Nations, according to a statement.

Deputy secretary-general of the United Nations Amina J Mohammed, Canadian finance minister Chrystia Freeland, and Jamaica's finance minister Nigel Clarke jointly convened the event.

Finance ministers of more than 60 UN member states, representatives of relevant UN organisations, and multilateral financial institutions addressed the meeting.

The meeting was organised to discuss an ambitious menu of policy options to recover from the dire consequences of the Covid-19 crisis and build a resilient and sustainable global financial architecture in the long term.

On May 28 this year, the UN secretary-general along with the Prime Ministers of Canada and Jamaica launched an initiative namely 'Financing for Development in the Era of Covid-19 and Beyond'.

The initiative was followed by creation of six discussion groups in the areas of external finance and remittances, jobs and inclusive growth, recovering better for sustainability, global liquidity and financial stability, debt vulnerability, private sector creditors' engagement, and illicit financial flows.

Permanent representative of Bangladesh to the United Nations Rabab Fatima took over the responsibility of a co-lead in the discussion group-1 on external finance and remittances, jobs, and inclusive growth along with high level representatives of Egypt, Japan, and Spain.

The discussions of the ministerial event will be submitted to the heads of governments/states at the United Nations General Assembly on September 29.

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