IMF agrees to give Major debt relief to Pakistan due to Corona issue

0
110
IMF agrees to give Major debt relief to Pakistan due to Corona

ON Thursday Foreign Minister of Pakistan Shah Mahmood Qureshi said that International Monetary Fund has agreed to give one-year relief in debts to Islamabad keeping in view the present pandemic severity in developing countries.

 

“Developing nations have been hit the hardest with the pandemic,” Qureshi told Geo Pakistan.

IMF agrees to give Major debt relief to Pakistan due to Corona issue

This relief is given to nation fighting against Corona to eradicate this pandemic as it is a time of great trial and developing countries are struggling even in fewer resources 

 Earlier, IMF and world bank had decided to give relief in debts to 2o groups of poorest nations considering their struggle against Corona for one year so they can financially cope with the coronavirus pandemic.

Imran Khan requested the IMF for debt relief for developing countries, which was accepted by the IMF. The IMF has said it would give relief to 70 developing nations, including Pakistan. Said Qureshi

Moreover, he said this Washington based relief would be allotted from May 1 and continue to one year.

The Prime Minister of Pakistan requested a “Global Initiative of Debt Relief,” stated Corona Pandemic has given rise to health and economic challenges for developing countries.

LEAVE A REPLY

Please enter your comment!
Please enter your name here