During the call, the Prime Minister emphasized that Covid-19 has unfolded an unprecedented global health & economic crisis, where developing countries will be hit harder due to lack of fiscal space and debt servicing. People in the developing world face a starker choice: death by COVID-19 or by hunger.
The Prime Minister underscored that ability of the developing countries to cope with the COVID-19 challenge would depend on providing urgent debt relief, at their request, and without onerous conditions.
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The Prime Minister hoped that alongside the UN Secretary General, countries like Germany would provide leadership to this issue, in the forthcoming G-20 Finance Ministers Meeting as well as Spring Meetings of the IMF and the World Bank.