Trudeau calls for global response to heal COVID-19’s economic damage

OTTAWA — Prime Minister Justin Trudeau opened a major United Nations’ conference Thursday morning, stressing the importance of tackling the social and economic impacts of the COVID-19 pandemic.

Calling it an international crisis with many dimensions, Trudeau used his opening speech at the forum to push countries to work together.

“For the global economy to recover and for our domestic economies to bounce back we need a global, coordinated plan,” Trudeau said.

The UN estimates without a co-ordinated plan, the pandemic could slash nearly $8.5-trillion from the world economy over the next two years and force 34.3 million people into extreme poverty this year.

“This is truly a global challenge,” he said.

Trudeau told more than 50 heads of state and government that “our citizens need to have confidence in international institutions that leave no one behind and are capable of overcoming global challenges.”

He added the health crisis is a stark reminder of how interconnected we all are, and that this is an opportunity to emerge from this challenging time as a stronger and more cohesive world.

“One that creates growth for everyone, addresses inequality, and cares for the most vulnerable,” the prime minister said.

Earlier this week, Trudeau argued that ensuring poorer countries survive the crisis is not just the right thing to do, it’s in Canada’s own self-interest.

He said Canadian jobs and businesses depend on stable and productive economies in other countries, so it matters how other nations weather the COVID-19 storm.

The conference will address six urgent areas of action to mobilize the financing needed for a global recovery, including expanding liquidity in the global economy and maintaining financial stability and involving private-sector creditors in recovery plans.

Meanwhile, on other matters, the prime minister is expected to hold a conference call with premiers later in the day Thursday, where disturbing conditions of long-term care facilities will be a key focus.

Trudeau and his government are also expected to face questions about the recent court loss for Huawei executive Meng Wanzhou in Vancouver, who is fighting extradition to the United States. There are fears this legal setback for Meng could lead to further retaliation from China, and put at risk Michael Spavor and Michael Kovrig, the two Canadians being arbitrarily detained.