ISLAMABAD: Pakistani Prime Minister Imran Khan on Monday proposed a five-point agenda to address structural barriers hampering global development during the coronavirus pandemic, urging the "equitable and affordable" supply of vaccines to developing countries and calling for additional debt relief. 

Khan presented a statement at the fourth session of the United Nations Conference on Trade and Development Intergovernmental Group of Experts on Financing for Development. 

He said the pandemic offered an opportunity to address “structural barriers hampering global prosperity and development,” proposing a five-point agenda.

“One, a viable framework for equitable and affordable supply of COVID vaccine to developing countries. The coverage of the COVAX facility must be expanded. This would enable the developing countries to spend their precious resources on socio-economic development needs,” the PM said. 

He said developing nations should get additional debt relief, including suspension of debt repayments for the most stressed countries until the end of the pandemic, restructuring of their public-sector debt under an agreed and inclusive multilateral framework; and expanding concessional financing through multilateral development banks.

“Three, a general allocation of Special Drawing Rights (SDRs) of 500 billion dollars to help alleviate balance-of-payment pressures,” Khan added. “Four, return of stolen assets held by corrupt politicians and criminals ... Reportedly, a staggering amount of 7 trillion dollars is parked in 'haven' destinations. And it is also reported that one trillion dollars annually leaves the developing countries for these “haven” destinations.”

Finally, the PM said, mobilizing $100 billion annually by developed countries for climate action in developing countries was a target that needed to be met. 

“Economic malaise and recession, like the coronavirus, is highly communicable,” Khan said. “Global policy measures, along the lines I have outlined, are urgently needed to save lives, revive economies, and build back better.”

Pakistan has reported 534,041 COVID-19 cases so far, and 11,318 deaths, far lower than what officials had feared.

“In Pakistan, our efforts have been aimed at ensuring that we save people from dying from the virus, and at the same time preventing them from dying from hunger,” Khan said. “Our strategy fortunately has worked well so far. But continuous efforts are needed to fully overcome the second wave of the virus. And also at the same time to maintain and stimulate economic growth.”