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.
ترقی پذیرملکوں کیلئے قرضوں میں ریلیف قابل ستائش ہے:وزیراعظم عمران خان
ریلیف جی20ملکوں،آئی ایم ایف اورورلڈ بینک کی جانب سےدیاگیا ہے
آئی ایم ایف کے اضافی 1ارب40کروڑڈالر کےرعایتی قرض سےوزیراعظم کو آگاہ کیا
رعایتی قرضہ کرونا سےمتاثرہ معیشت کوسہارا دینےکیلئےہے:مشیر خزانہ عبدالحفیظ شیخ pic.twitter.com/QQqQbQRSHV— PTV News (@PTVNewsOfficial) April 16, 2020
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.
PM @ImranKhanPTI launched #Global_Initiative_Debt_Relief with special request to @antonioguterres for support. Since March, Pakistan has lobbied global stakeholders, from world leaders and heads of financial institutions to restructure/relieve debt of developing world. #Covid_19
— Shah Mahmood Qureshi (@SMQureshiPTI) April 16, 2020
Today, #G20 nations agreed to suspend bilateral government loan repayments for developing countries until the end of the year. Pakistan, along with 75 countries benefit from this as of May 01 with relief upwards of estimated $20 billion. #Global_Initiative_Debt_Relief #Covid_19 https://t.co/YBIihbqyhh
— Shah Mahmood Qureshi (@SMQureshiPTI) April 16, 2020
#G20 has also called on pvt creditors to participate on comparable terms & echoes #Pakistan’s call to multilateral dev banks for relief/restructuring debt for developing world allowing for more fiscal space to tackle health & econ crisis of #COVID_19.
— Shah Mahmood Qureshi (@SMQureshiPTI) April 16, 2020
#Covid_19’s unprecedented socio-economic impact is far greater in the developing world & Foreign Office together with Ministry of Finance will continue to strive for a strong & coordinated global response, driving forward the PM’s #Global_Initiative_Debt_Relief @a_hafeezshaikh https://t.co/WpQMCTuO5n
— Shah Mahmood Qureshi (@SMQureshiPTI) April 16, 2020
