Pakistan has appealed to international stakeholders for urgent debt relief for developing countries so they can deal more effectively with the economic fallout from the coronavirus pandemic, the government said on Sunday.
Pakistan has recorded 5,183 cases of the virus, with 88 deaths. The country’s already-struggling economy has been hit hard by nationwide preventive lockdowns that have brought economic activity to a halt and caused widespread unemployment.
“Pakistan with a population of 220 million, so far the best stimulus package we can afford is $8 billion,” Khan said in the video, adding that highly indebted countries lack fiscal space to spend on health and social support. Khan said he appealed to world leaders, the heads of financial institutions and the secretary-general of the United Nations to get together to announce a debt relief initiative for developing countries.
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