FM backs IMF view on pandemic, urges universal applicability of Covid jabs

Says burden of economic transformation to a low carbon world is disproportionately higher for emerging market, developing and low-income economies

Finance Minister Nirmala Sitharaman on Thursday endorsed the view of the International Monetary Fund (IMF) in ensuring universal applicability of vaccines and medical solutions. 

Addressing the plenary meeting of the International Monetary and Financial Committee virtually, she said the IMF’s assertion that multi-speed economic recovery can potentially cause significant disruption in developed and low-income economies warrants cooperation and a coordinated policy.  

She said the burden of economic transformation into a low carbon one is disproportionately higher for the emerging market (EM), developing, and low-income economies. “We must focus on agreed principles of equity and differentiated responsibility of climate action,” she said. 

The IMF