PM Imran Khan hails debt relief measures by G-20 Countries, IMF & World Bank

Government of PakistanPM Imran Khan hails debt relief measures by G-20 Countries, IMF &...

ISLAMABAD, Pakistan: Prime Minister Imran Khan has appreciated the debt relief measures by G-20 Countries, International Monetary Fund (IMF) and World Bank for Developing Countries including Pakistan.

The appreciation was echoed by the prime minister when his Advisor on Finance Dr Abdul Hafeez Sheikh met him in Islamabad on Thursday.

The finance advisor informed the prime minister about the planned approval of an additional US$ 1.4 billion concessionary financing from IMF to deal with the economic impact of Coronavirus (COVID-19).

Dr Abdul Hafeez Sheikh also updated the prime minister about the progress on various components of the Economic Stimulus Package announced by the government.

About 76 Developing Countries including Pakistan will get the debt relief from May 1, 2020 initially for a period of one year, the Foreign Minister Shah Mahmood Qureshi told earlier in the day.

Qureshi pointed out that the prime minister’s appeal for debt relief and restructuring for Developing Countries was endorsed by the UN Secretary General Antonio Guterres, the IMF, and the G-20 Countries at a meeting yesterday.

The foreign minister said that Pakistan spends one-third of its revenue on payment of debt and this debt relief will greatly benefit Pakistan.


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