Pakistan: UN chief pledge to raise issue of ‘debt swaps’ with IMF, WB
Secretary General of the United Nations (UN) António Guterres appealed ardently for substantial debt relief for developing countries. He said UN will strongly advocate for ‘debt swaps’, with IMF and World Bank as well as at G20 meeting through which poor and developing nations like Pakistan will be able to use that money to invest in climate resilience, investments in sustainable infrastructure, and green transition of their economies. He stated this to media persons along with PPP chairman and Foreign Minister Bilawal Bhutto Zardari, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, and Sindh Chief Minister Syed Murad Ali Shah at old karachi Airport.
UN chief said that developing nations Instead of paying the debts to creditors being able to invest that money in what the country requires,’.
António Guterres appealed the international community to scale up their support for colossal flood hit Pakistan.
He said, pakistan is paying the price in shape of catastrophic flood which is created by others. He added, 'We see here in Pakistan, the nature is striking back with devastating consequences,’ adding, ‘I have seen many disasters in the world but I have never seen climate carnage on these scales.’ ‘I have simply no words to describe what I have seen today,’ UN chief said.
Massive and urgent financial support for Pakistan, is not the question of solidarity, generosity, but the question of justice, is required. He added, the G - 20 nations are responsible for 80 percent of that emissions.
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