Policy solutions discussed to overcome financial crisis during COVID-19

2020-09-10 14:33:23

Ulaanbaatar/MONTSAME/. Ministers of Finance of all member states of the United Nations and representatives of international financial institutions virtually discussed solutions to overcome the crisis caused by the COVID-19 pandemic.

Co-convened by Canada, Jamaica, and the United Nations, the high-level event on Financing for Development in the Era of COVID-19 and Beyond took place on September 9, in which Deputy Minister of Finance of Mongolia S. Mungunchimeg attended.

The purpose of the meeting is to develop a policy solution to take a comprehensive and interrelated response to COVID-19 based on international commitments and participation. At the meeting, six discussion groups composed of member states of the UN and various international institutions have been established to address the following topics: External finance and remittances, jobs and inclusive growth; Recovering better for sustainability; Global liquidity and financial stability; Debt vulnerability; Private sector creditors engagement; and Illicit financial flows.

Proposals and initiatives raised during the virtual meeting will be summarized and presented at the UN General Assembly on September 29, 2020.