Pakistan PM Imran Khan seeks debt relief from world community as coronavirus COVID-19 cases rise

Amid the rising coronavirus COVID-19 cases in Pakistan, Prime Minister Imran Khan on Sunday (April 12) urged the global community, the intrnational financial institutions and the UNSG to launch an initiative to help the developing nations in their fight against the deadly virus. It is to be noted that around 450 fresh cases were reported in Pakistan in Sunday, bringing the total number of the cases in the country to 5,230.

“My appeal to the international community, the UNSG & international financial institutions to respond positively to the dilemma confronting developing countries in the face of the COVID19 pandemic,” PM Imran said in a video message.

In his video message, the Pakistan prime minister also highlighted that highly indebted countries are facing a “lack of fiscal space” that was proving to be major hindrance in their efforts to curb the spread of coronavirus and at the same time, providing relief to people.

According to Imran Khan, strong, coordinated and well-crafted global response is needed to control the global pandemic. “The Global Initiative on Debt Relief will bring together stakeholders on a platform to promote coordinated health and economic response,” he said.

The Pakistani prime minister remarked that COVID-19 posed unprecedented health and economic challenges and the global economy is set to face a recession worse than the Great Depression.

Imran Khan also talked about the relief packages announced by the UN, the International Monetary Fund and the World Bank in the last few days, including initial relief packages of USD 1.4 billion by the IMF and USD 1 billion by the World Bank.

The Pakistani prime minister appealed to the UN Secretary-General to work with him in advancing the objectives of a coordinated response. “The proposed Global Initiative aims to lay the ground for urgent debt relief to the developing countries, at their request, and without onerous conditionalities,” he said.

Imran Khan also mentioned that his Government had provided stimulus package worth USD 8 billion to help the most vulnerable people in the country.