Trudeau positions Canada as champion of co-ordinated global recovery plan
Without a plan, pandemic could slash nearly $8.5T from world economy, UN says
Prime Minister Justin Trudeau will continue today to make the case for a co-ordinated global response to cushion the economic impact of the COVID-19 pandemic on the world's poorest countries.
He'll be among the leaders and heads of state to deliver remarks during a virtual summit of the Organization of African, Caribbean, and Pacific States (OACPS).
Among other things, he is expected to promise that Canada will partner with developing countries, which stand to be the hardest hit by the pandemic, and help to rally the world behind measures like debt relief to help them survive the crisis.
That is similar to the message Trudeau delivered last week while co-hosting a major United Nations summit, alongside UN secretary general Antonio Guterres and Jamaican Prime Minister Andrew Holness.
Without a global co-ordinated recovery plan, the UN estimates the pandemic could slash nearly $8.5 trillion US from the world economy over the next two years, forcing 34.3 million people into extreme poverty this year and potentially 130 million more over the course of the decade.
While no country has escaped the economic ravages of the deadly novel coronavirus that causes COVID-19, developing countries, already in debt distress before the pandemic, cannot afford the kinds of emergency benefits and economic stimulus measures undertaken in wealthy, industrialized countries like Canada.