JAKARTA: The G20 Finance Ministers and Central Bank Governors are looking for a long-term international financial solution to help strengthen global resilience in the face of future pandemics and close gaps in health systems between countries.
The financial leaders discussed the concerns on Thursday during a two-day G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Jakarta, Indonesia, with Indonesia serving as the host country.
Sri Mulyani Indrawati, Indonesia's finance minister, informed G20 participants in a panel discussion that the Covid-19 pandemic has demonstrated that the global health system is not prepared to deal with the outbreak, and that the global financing system is still insufficient.
"As a result, G20 member countries should work together to establish a more robust global health system," she added. "This will, undoubtedly, necessitate increased investment and financial resource mobilisation." President of the World Bank Group David Malpass urged that the G20 countries create international platforms to aid developing and low-income countries in their recovery from the crisis.
Indian Finance Minister Nirmala Sitharaman pointed out that Low and middle-income countries, , lack the means to deal with the pandemic and require international assistance.
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