G20 countries seek sustainable financing scheme for future pandemic response

The Finance Ministers and central bank governours of the G20 nations are seeking sustainable international financing schemes to build global resilience in facing potential future pandemics and reduce gaps in health systems among countries. The financial leaders addressed the issues on Thursday, either in person or virtually, during a two-day G20 Finance Ministers and Central Bank Governors (FMCBG) meeting held in Jakarta, with Indonesia serving as the host country, reports Xinhua news agency.

Indonesia’s Finance Minister Sri Mulyani Indrawati told the G20 participants in a panel discussion that the Covid-19 pandemic has revealed that the global health system is not ready enough to face the pandemic and the global financing system is still inadequate. World Bank Group President David Malpass suggested that the G20 countries build multilateral platforms that could help developing and low-income countries move forwards out of the crisis.

Indian Finance Minister Nirmala Sitharaman pointed out that low and middle-income countries do not have enough resources to deal with the pandemic and need global support. Thus, she encouraged the G20 member countries to ensure “expeditious and equitable distributions of vaccines” as one of the simple ways to bridge the gaps in global pandemic preparedness. Interview Times