The world's biggest economies should create a forum to facilitate global coordination for the next pandemic, as well as a new financing facility to keep up with emerging threats, U.S. Treasury Secretary Janet Yellen and Indonesian Finance Minister Sri Mulyani Indrawati said on Tuesday.
, the two finance ministers said the forum would allow health and finance ministers to better cooperate and coordinate prevention, detection, information-sharing, and any needed response.Yellen and Indrawati said the COVID-19 pandemic, which has killed nearly 5.2 million people around the world, had revealed a lack of readiness at the country level and a lack of coordination among G20 countries.
Several independent organizations, including the High-Level Independent Panel headed by former U.S. Treasury Secretary Lawrence Summers, World Trade Organization Director-General Ngozi Okonjo-Iweala and Singaporean Senior Minister Tharman Shanmugaratnam, have called for creation of such a forum, They said a new financing facility could complement the resources of multilateral development banks and ensure sufficient dedicated, reliable financing so that vaccination and treatment can keep up with emerging threats.
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