PM terms money laundering major cause of economic hardship for poor countries
Last updated on: 05 October,2021 10:02 pm
Prime Minister Imran Khan said the financing facility must continue till the epidemic is contained.
ISLAMABAD (Dunya News) – Prime Minister Imran Khan on Tuesday declared money laundering major cause of economic hardship for the people of poor countries.
Addressing the World Leaders Summit Dialogue organized on the occasion of 15th Quadrennial Meeting of UNCTAD on Tuesday through video link, he said that the developing countries have suffered most due to global coronavirus pandemic.
The prime minister said that the debt facility must continue till the epidemic is contained.
Imran Khan also stressed the need to end inequalities with regard to the vaccination. He also emphasised the climate finance and return of stolen wealth to developing countries as part of global economic recovery from the devastating effects of the pandemic.
The prime minister reaffirmed the urgent need for mobilization of and contribution by richer countries to climate finance in view of the vulnerability and existential challenges faced by Small Island Developing Countries (SIDS) and other developing countries, including Pakistan.
Reiterating his deep concern over the huge challenge of illicit flow of money amounting to $1 trillion annually from developing countries to richer capitals and tax havens, the prime minister underscored the imperative of halting these outflows.
He once again emphasised implementation of UN Secretary General’s FACTI Panel’s recommendations, enabling the developing countries to more meaningfully alleviate poverty and human development.