- Deputy PM raises alarm about ‘escalating development crisis’ at G77 foreign ministers’ meeting
- Calls for urgent reforms to debt architecture, tax cooperation, and multilateral lending
- Seeks $300b annual climate finance, citing Pakistan’s $30b flood losses
- Global South pressed to play proactive role in AI, digital divide, and fair taxation
NEW YORK/ISLAMABAD: Pakistan on Wednesday urged greater unity among developing countries to confront what it described as an “escalating development crisis,” warning that the financing gap for the Sustainable Development Goals (SDGs) has ballooned from $2.5 trillion in 2019 to more than $4 trillion, with climate action requiring several additional trillions.
Speaking at the Annual Meeting of Foreign Ministers of the Group of 77 (G77) and China, Deputy Prime Minister and Foreign Minister Ishaq Dar painted a sobering picture of the challenges facing the Global South. He cautioned that widening inequalities, rising debt distress in over 100 countries, multiplying climate disasters, geopolitical tensions, and the growing digital divide posed “grave risks” to the global economy and sustainable development efforts.
Statement by the Deputy Prime Minister/Foreign Minister at the Annual Meeting of Foreign Ministers of Group of 77 and China
🔗⬇️https://t.co/EfxHftnzGJ pic.twitter.com/SLdHUGvhJT— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) September 24, 2025
Dar reaffirmed that Pakistan would remain a steadfast partner in advancing the shared interests of developing nations at the United Nations and beyond. Despite daunting headwinds, he noted the Group’s progress this year, particularly the adoption of the Compromiso de Sevilla at FFD4, which he said must now be fully implemented.
Outlining key priorities, the deputy prime minister urged convening ECOSOC special meetings on financial integrity and credit rating agencies, revitalizing the Development Cooperation Forum, scaling up multilateral development bank lending, creating a Borrowers’ Forum, and initiating systemic reforms to address persistent debt vulnerabilities.
Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 participated in the G77 and China Ministerial Meeting on 24 Sept. 2025 on the sidelines of the 80th Session of the High-Level Week of the UN General Assembly in New York.
In his remarks, the DPM/FM… pic.twitter.com/EKEd1jLIyn
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) September 24, 2025
Dar also stressed the need for the Global South to play a proactive role in UN-led processes on artificial intelligence to bridge the digital divide and safeguard collective interests. He called for advancing negotiations on a UN Convention on International Tax Cooperation, in partnership with African countries, to curb illicit financial flows and ensure fair global taxation.
On climate change, he invoked the principle of “Common But Differentiated Responsibility,” pressing developed nations to deliver $300 billion annually in predictable, grant-based finance. Citing Pakistan’s experience, he recalled that the country suffered over $30 billion in damages during the 2022 floods and continues to face recurrent disasters despite contributing less than 1% to global emissions.
“For Pakistan, the urgency is stark: three years after the 2022 floods, which caused $30 billion in damages, we are once again facing catastrophic floods. This injustice remains unaddressed,” Dar remarked.
He further underscored that the UN80 Initiative for reform must strengthen—not dilute—the UN’s sustainable development mandates. “Pakistan will remain a steadfast partner in upholding the shared interests of the Global South,” he affirmed.
FM says current financial order perpetuates inequality, demands equity
Separately, addressing the First Biennial Summit for a Sustainable, Inclusive and Resilient Global Economy at the United Nations, Dar called for decisive reforms to resolve the debt crisis, scale up development and climate finance, and create an inclusive, equitable global financial order.
Statement by the Deputy Prime Minister/Foreign Minister at the First Biennial Summit for a Sustainable, Inclusive and Resilient Global Economy
🔗⬇️https://t.co/Cs2MNRtYiL pic.twitter.com/i6sxeYzfBN— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) September 24, 2025
He criticized the current global financial architecture for perpetuating inequalities, while pointing to the widening SDG financing gap, unsustainable debt burdens of developing countries, and the accelerating climate emergency as evidence of the urgent need for reform.
Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 attended the “First Biennial Summit for a Sustainable, Inclusive & Resilient Global Economy” at the UN today.
In his remarks, the DPM/FM stressed that the current global financial architecture has… pic.twitter.com/nA0pX4gRUY
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) September 24, 2025
