Qureshi stresses debt restructuring to counter economic challenges | Pakistan Today

Qureshi stresses debt restructuring to counter economic challenges

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Monday said that restructuring and easing of international loans of Pakistan could prove helpful because of economic challenges in the aftermath of coronavirus pandemic.

Chairing a high-level meeting here at the Ministry of Foreign Affairs to review the situation in the wake of COVID-19 and its impact on the economy, the foreign minister said that easing of international loans of developing countries could prove helpful in saving precious human lives and ensuring their sustainable development.

The meeting was attended by Finance Adviser Abdul Hafeez Shaikh, Federal Minister for Economic Affairs Hammad Azhar, Foreign Secretary Sohail Mehmood and senior officials of the Ministry of Foreign Affairs.

Permanent representatives Munir Akram and Khalil Hashmi from New York and Geneva respectively attended the meeting through the video-link.

The foreign minister said due to the lockdown imposed in Pakistan to contain the coronavirus, the economic activity is suspended with decline in exports.

The foreign minister mentioned that the proposal of Prime Minister Imran Khan for facilitation to the developing countries in payment of loans is being discussed at international forums. He directed the permanent representatives of Pakistan in New York and Geneva to make efforts in that regard.

He also apprised the meeting of his telephonic conversations with the secretaries general of United Nations and Shanghai Cooperation Organization, and the foreign ministers of European and SAARC countries.

The Law Today Pakistan (TLTP) is an independent news service.