The Federal Chancellor meets heads of international organisations
A global economic recovery from the impact of the COVID-19 pandemic is only possible if support is given to developing and emerging countries. Alongside leaders of international economic and financial organisations, Federal Chancellor Angela Merkel called for more Covid-19 vaccines for poorer countries and fair funding for global climate protection.
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The fair distribution of vaccines was a critical factor in the economic recovery, said Federal Chancellor Merkel.
Photo: Federal Government/ Steins
A meeting on Thursday between Federal Chancellor Merkel and the heads of international economic and financial organisations focused on the global response to overcome the effects of the COVID-19 pandemic. At the press conference afterwards, Federal Chancellor Angela Merkel stressed the importance of collaboration between international organisations so that developing and emerging countries are not left behind in the process of economic recovery.
Along with ensuring that vaccines are distributed fairly, Merkel called on international economic and financial organisations to provide debt moratoriums and specific interest protections to countries in need. Funding for climate protection was also of paramount importance, Merkel said. Another key focus for the meeting was the economic and financial situation in Africa, so the President of the African Development Bank (ADB), Dr Akinwumi Adesina, also took part.
The informal economic meeting has been taking place annually since 2007, and this year the Federal Chancellor and the five leaders of international economic and financial organisations discussed current issues around growth, the fight against unemployment and poverty, and issues of fundamental structural reforms.
The event returned to the Chancellery after it was held via video conference last year due to the Covid-19 pandemic.
The summit meeting with the heads of international economic and financial organisations was held at the Chancellery and focused on fighting the Coronavirus pandemic.
Photo: Federal Government/Steins
Preventing a two-speed economic recovery
The international economic experts expressed their concerns about a two-speed economic recovery, noting that although a global recovery after the pandemic was taking place, developing and emerging countries were growing less strongly. In the experts’ view, this problem would not only exacerbate global inequality, but could also compromise delivery chains that are important to the global economy. “We must do everything we can to narrow the gap in economic development, whereby poorer countries are recovering more slowly,” according to the Federal Chancellor.
Accelerating vaccination programmes in poor countries
“We also held intensive discussions about the vaccination situation, which we will continue at this evening’s dinner,” Merkel said. “While some countries are already talking about booster vaccinations, there are many that have not yet received any vaccines at all,” said Merkel, stressing that this would have to change very soon. WTO Director General Okonjo-Iweala reiterated that the World Trade Organisation (WTO) was working with vaccine manufacturers and the World Health Organisation (WHO) to improve delivery chains, avoid shortages and secure access to vaccines for developing countries. Okonjo-Iweala stressed that achieving greater transparency was an important goal in this regard.
Who participated in the meeting?
Director General of the International Labour Organisation (ILO) Guy Ryder, Director of the International Monetary Fund (IMF) Kristalina Georgieva, Secretary General of the OECD Mathias Corman, President of the World Bank David Malpass, Director General of the World Trade Organisation (WTO) Ngozi Okonjo-Iweala, and President of the African Development Bank (ADB) Akinwumi Adesina took part in the meeting with the Federal Chancellor.
What role do these organisations play? Who did the Federal Chancellor talk to? This glossary provides answers to these questions.