Global response needed for economic recovery: PM

Prime Minister Justin Trudeau is calling for a co-ordinated global response to ensure a smooth economic recovery from the COVID-19 pandemic.

At a virtual meeting organized by the United Nations, Trudeau says Canada can’t defeat the novel coronavirus and rebuild its economy unless all countries have the resources to recover.

UN Secretary-General António Guterres says the lack of action to support vulnerable middle-income countries affected by the crisis presents a risk of spiralling into the worst recession since the Great Depression.

The meeting is following up on a series of sessions held last year to mobilize efforts for economic recovery from the pandemic.

Watch live: Prime Minister Justin Trudeau participates in a joint press conference with the Secretary-General of the @UN, António Guterres, and the Prime Minister of Jamaica, Andrew Holness: https://t.co/olZxli46lb pic.twitter.com/49lBu8DVur

— CanadianPM (@CanadianPM) March 29, 2021

Guterres says the world is on the verge of a debt crisis, as six countries have already defaulted and one-third of emerging-market economies are at high risk of fiscal crisis.