Multilateralism did not rise to occasion when it was most in demand: Jaishankar

New Delhi: Multilateralism did not rise to the occasion when it was most in demand, External Affairs Minister S Jaishankar said on Thursday while referring to the "unprecedented" challenge thrown up by the Coronavirus pandemic in diverse areas globally.

In an address at a roundtable of ASEAN-India Network of Think Tanks, Jaishankar said the world will never be the same again and that the impact of the pandemic has been beyond "our collective imagination".

"Current estimates put the cumulative loss in the range of USD 5.8-8.8 trillion or approximately 6.5-9.7 per cent of the global GDP. The contraction of the world economy being predicted will surely be the largest since the Great Depression," the external affairs minister said at the virtual event.

At the same time, he added that the true extent of the pandemic's destruction in terms of loss of lives and livelihood remains "unclear". Analysing the evolving world scenario, Jaishankar said the pandemic has brought the indivisible aspect of human existence that underpins globalisation, adding the new challenges have brought out the need for the international community to work together much more sincerely in search of collective solutions.

"The limitations of purely national responses or sometimes living in denial have become evident. It, therefore, underlines the need for the international community to work together much more sincerely in search of collective solutions," he

said.