Cash-strapped Pakistani PM Imran Khan seeks debt waiver at UN Covid meeting – World News

In this image made from UNTV video, Pakistan PM Imran Khan speaks in a pre-recorded message which was played during the UN General Assembly

Pakistan’s Prime Minister Imran Khan on Thursday demanded a debt waiver as he proposed a 10-point plan to prevent many developing countries from being hit by the Covid-19 sanctions and lockouts.

Addressing a session of the UN General Assembly on the response to the epidemic, Khan called for financial relief on behalf of developing countries.

“I am convinced that in our situation, other developing countries are facing the same dilemma. How to stimulate the economy and yet at the same time reduce our budget deficit? The only way to sustain and revive finance is to reach greater liquidity, ”said the Prime Minister of Pakistan.

Khan told his audience that rich countries had injected 13 13 trillion as financial stimulus to revive their economies but developing countries did not have the resources. He said Pakistan was also committed to reducing the budget deficit under an IMF program.

The Prime Minister of Pakistan spoke at length on the dangers facing developing countries and said that the effects of economic downturn could be catastrophic. He also shared the damage done to Pakistan’s economy by the Kovid epidemic.

The Prime Minister of Pakistan said that his government’s strategy had worked for the first wave because it had installed smart locks. Because of this, daily wage earners do not have to suffer unnecessarily. At the same time, the Prime Minister of Pakistan warned that the second wave has started paralyzing life in parts of Pakistan.

“Our goal was to make sure that we not only saved people from the virus but also saved them from starvation. “We have provided a relief package of about 8 8 billion – about 3% of our GDP – to help the poor and keep the economy afloat at the same time,” he said.

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Muhammad Wayne

About the author: Muhammad Wayne

Wayne is a reporter who covers everything from oil trading to China's biggest conglomerates and technology companies. Originally from Chicago, he is a graduate of New York University's business and economic reporting program.

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