*United Nation supports Imran Khan’s call for global initiative on debt relief
He said the UN Chief hopes that debt relief must be a significant part of the COVID-19 response, counting immediate waiver on interest payments for the current year. The spokesman also urged that it is significant that the limited resources of the world’s poorest states must be used to combat COVID-19 virus.
Moreover, the spokesperson added that the UN Secretary-General has cleared his position privately and publicly, notably in the letter he sent to the G20.Prime Minister Imran Khan appealed before the world leaders, leading financial heads and the United Nations Secretary-General for the launching of ‘Global initiative on debt relief’.In a brief televised appeal to the international community, the prime minister juxtaposed the financial health of the developing countries mainly Pakistan where the government of Pakistan had been striving simultaneously to avoid the spread of the deadly COVID-19 through clamping of lockdowns and saving the people from death because of hunger.The prime minister cautioned that in developing states the pandemic’s socio-economic impacts would be additional consequential.
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The proposed global initiative aimed to lay the ground for urgent debt relief to the developing states, at their request, and without onerous conditionalities. Sources also recorded that the initiative was built on the prime minister’s belief that improved fiscal capacity was fundamental to recovery from the ongoing pandemic crises. Imran Khan also urged world leaders to step up measures to help developing states to overcome disastarous impacts of COVID-19.He proposed that the developing states should be offered with fiscal space and financial relief by enhanced debt relief and restructuring and other additional measures that could assist them manage the unfolding crisis.