The leader of Kazakhstan attended the virtual forum that brought together the heads of global financial institutions.
On March 29, speaking at the High-Level Meeting on the International Debt Architecture and Liquidity, President of Kazakhstan Kassym-Zhomart recalled the shared responsibility of the world community to provide assistance to vulnerable populations in the face of the pandemic and economic devastation, the press office of Akorda reported.
The high-level virtual meeting was convened at the initiative of the UN Secretary General and Prime Ministers of Canada and Jamaica. The heads of state and government of South America, Asia, the European and African Unions, as well as heads of global financial organisations attended the event.
Addressing the forum as Chairman of the Group of Landlocked Developing Countries (LLDCs), the President of Kazakhstan emphasised that the LLDC Group members had found themselves face to face with an extremely dangerous counterproductive combination. This is a decline in foreign investment, trade deals, financial transfers, growing debt, numb fiscal capacities and economic disruption.
Putting forward a number of specific proposals, the President noted that modern challenges had necessitated mobilising the US$ 160 billion anti-crisis package of the World Bank and the $1 trillion lending capacity of the International Monetary Fund to help the countries most affected by the crisis. Tokayev called on the international organisations and global financial institutions to recognise the LLDC Group as a key priority of this work.