Name: PM Imran asks rich countries to do more for fragile economies
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PM Imran asks rich countries to do more for fragile economies

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AdvertisementAdvertisementAdvertisementAdvertisementISLAMABAD: As the Pakistan government stepped up diplomatic efforts for initiating consultations at the United Nations for a collective action on debt relief for developing countries, Prime Minister Imran Khan on Thursday called on the rich countries to do more for fragile economies than just suspending debt servicing.In a telephonic conversation with Egyptian President Abdel Fatteh Sisi, Mr Khan said that measures like debt suspension were helpful for struggling economies, but “more measures were needed to reboot the developing countries’ economies”.According to a statement issued by the PM Office, Mr Khan had called Mr Sisi for discussing his call for a ‘Global Initiative on Debt Relief’ for developing countries.He said countries with fragile economies were encountering “unprecedented” health and economic crisis.In telephone talk with Sisi, PM says just suspension of debt servicing is not enoughThe prime minister said people of these poorer countries were faced with the “stark choice” of dying due to coronavirus or hunger.PM Khan had on April 12 launched an international appeal for debt relief. He had urged the world leaders to help developing countries in dealing with the impact of Covid-19 through debt relief and restructuring so that fiscal space could be created for them to carry out relief activities in their countries.Pakistan later welcomed the debt relief measures announced by G20 countries, the International Monetary Fund and World Bank for developing countries. But, Mr Khan now says that these measures may free up resources, which were to be originally used for debt servicing, to deal with the crisis and its socio-economic impact, but developing countries would require more.Mr Khan, in his conversation with Mr Sisi, called for closer collaboration to develop ‘a comprehensive plan’ for turning the crisis caused by Covid-19 into an opportunity for economic revival.Mr Sisi, according to the statement, supported Mr Khan’s debt relief initiative.Pakistan is convening a group of interested countries at the UN to commence consultations for proposing a comprehensive solution to the debt challenges of developing countries in the backdrop of Covid-19.“The Prime Minister and Foreign Minister would be reaching out to a number of world leaders to discuss the need for a coordinated and comprehensive solution to the debt issue,” FO Spokesperson Aisha Farooqui said at the weekly media briefing.Published in Dawn, May 1st, 2020AdvertisementAdvertisementAdvertisementComments (115) ClosedIK's "Global Initiative on Debt Relief" --- WHO appointed IK for this role? He can speak only for Pakistan and no other country is asking for money and debt write off like IK is..How can one expect so called rich countries to forgive debts which are huge sum of money? It is their hard earned money and all countries are facing economic pressure in the wake of Covid-19 right now. Totally an unrealistic expectation of PM IK.Rich and middle income countries can overcome this pandemic, we won't. We need debt write off by rich and middle income nations.Leaders are role model for citizens. What kind of message IK is sending to Pakistanis by going on a debt write off and loan spree? What kind of fiscal responsibility and self sufficiency messages people are getting from IK?good initiativeNow, it is Pakistan to shout others to “do more”. Good riddance.The right way is to demand for compensation from the culprit China rather than begging advanced economies. All are equally suffered.Egypt a rich country?Keep on asking, nothing to loss. If get whatever it will be benifit onlyOk your highness.Why always asking from others...All rich countries have become poor now, kindly check with China.Rich countries like China.There is no rich country....I am sure Modi will consider Imran's request.Rich countries should send back black money stashed by Pakistanis to come out of current mess.Waiving off your loan? I don't think That is even possibleI am sure that the rich countries are in the same boat except for PRCthat's where you should knock the door'The prime minister said people of these poorer countries were faced with the “stark choice” of dying due to coronavirus or hunger.'He has left no option for national pride in this maneuver. Hopefully the 'rich' countries will forget this debate when 'poor' countries again ask for more loans.Who is Imran Khan to rich countries? What is his identity and credibility?Instead of begging rich countries can we just focus on making them stop accepting looted money from 'fragile economies'?Hopefully China falls under 'rich' category according 'poor' countries. Or is it a victim as well.Either way China has to do 'more'.Why take a loan when you are capable of paying?Finally! We were wondering when he would start again!!Why doesn't he tweet that?ask china to waive half of your debt. Test your so called friendshipChina will take care …First you need to have an economy in place.How come smaller Asian countries such as Sri Lanka, Nepal don't ask for relief as frequently as Pakistan asks ?basically he is asking help for Pak but putting it diplomatically.....under blanket of "fragile economies".....Iron brother's silence is quite puzzling. Why aren't they volunteering to write off some loan? Perhaps another trip to Beijing is warranted. You can also get new N95 masks there.Why are economes fragile ? why their elected governments cant take ownership of its people ?India is one of the poorest countries in the world. They will appreciate some relief.. . . to do more . . . . fragile economies . . . .Economy? Where is it?Do India include in this rich countries ?The only PM who have ample time in these tougher times !China the ultimate all season friend of Superpower Pakistan has 3.4 trillion us dollars as forex reserve why don't you knock there door.But you are a nuclear state with a powerful army right?Impose a proper lockdown and fix your own problems. You can't run a country on charitable funds.TAX the rich and give to the poor.Khan sahab first make ur economy strong ,in current situation everybody is caring about his people and nation.You are making ur people fool.PMIK must recover billions of dollars looted by SHARIF's and ZARDARI.China has most reserves and Pakistan’s largest debtor. So, why Imran is not called China.Ask or request??? Is he in any position to ask???Here he goes again. Same old story@T-man, And yet you don't see Modi asking for money from every country or person he meets. Imran didn't even spare Bill Gates now.@Baazigar, Of course, but India is not going to help.Another sad day for us! Before election the noble kindheart had stated, loans and aid come with compromised independence. However ever since then its been one hand outstretched after other!Pay for your luxuries and then borrow for the necessities. why not have a proper budget planned so that such a situation does not arise?@T-man, But much richer than pakistan.Who is he to assume authority to talk about entire Asia??Man up and pay your debts.Keep people at home if possible. and keep social distancing and wear masks, I see huge increase of infected people , as lots of people are not taking precautions. Congregations in mosques will cause lot of unnecessary deaths. Don’t give in to illiterate Mullahs. Infection increases exponentially.Prevention is better than cure.No One takes his Call except for few islamic Countries.Imaran Niazi Has No Cradiblityleft whatsoever.Rich Muslim countries?Iron brother's silence is quite puzzling.Always expecting others to do something for you is never a wise idea."Just suspension of debt servicing is not enough". Lenders must consider writing of debit. Pakistan will be unable or unwilling to repay debt. To save face Lenders should write off the debt as a generous gesture; and next time Pakistan will be in good position to repay.He should ask the very rich people in Pakistan including Khan to do more for their people.One can not keep begging from other hard working Nations while the rich people in Pakistan underpay their imployees Factory &amp; Domestic workers do not provide health insurance, It is time to ask your Own Nationals to be fair to the underprivilaged and pay them in Time and fairly so that they can actually start living a decent life.Stop begging and stand in your own two feetWhy doesn't he get the accountability of loans for last 72 years Pakistan has been getting, and find where the billions of dollars have gone?But you have CPECThis is entire worlds problem not just pak. I reckon it won’t be possible. Btw how much loan oak has in total?To run a country requires not ony brawn, but also brain. Invest in education of science and math, instead of theology.@Boom, ......days are numbered.Rich countries are made from their own and they do not do any charity,they only trap poor countries with their money.PTI among few parties in Pakistan who have no party workers, PTI is the only party who is looking and hiring paid party worker after securing power in the country. However this trend is dangerous and alarming, because these newly hired party workers will use their authorities without any judgement and experience.@Justice, Agree with you. IMRAN Khan want free money, he has not requested once to China to write off part of the loan - WHY?Ask Malaysia Turkey and Saudi ArabiaAll dictators are now friends.Due to COVID-19 shutdowns, Rich countries are in race to join the developing nation.There's no free lunch. What poor countries are willing to do in return for the rich countries.Lockdown continues in India. India don't want a penny from rich countries.Pakistan is strong nuclear country, it can fight pandemic alone.@Karachi, we now need our looted money back also from PMLN and PPP.And we do not care if bothh these parties choose India and leave our country.Well,India deserves themPoor countries cannot afford nukes.Just talking to China about debt relief is enough, isn't it?@T-man, India never beg, Our PM talks abt investments always not bailoutHe is 100 percent right.PM IK has become an expert in one thing,asking for loans and waivers from International community.Why have our leaders kept us so poor whilst they made billions?And in the other article you report that USA and Europe are facing grim economic time due to same pandemic.The rich countries if ever they want to give money to the people of the poor countries they should do so through either NGO's or directly through some other means. There is no point giving the money to government directly, it hardly ever reaches the poor masses. For e.g. the rich countries are already giving over 222 million dollars to Pakistan, how much do you think will reach them? I guess hardly any. If on the other hand, if they transfer this directly and all of this reaches to the poor directly, their life would change overnight.Global debt is actually the real virus and effects the lives of millions of people around the world. Unless this is resolved lesser countries will struggle to develop if at all and there will continue to be injustice and suppression.@prateek, well saidPakistan has to pay China. So instead of asking China, why is IK trying to do this drama "Global Initiative?"We are a poor country because of political instability since Indepence. We are not willing to change that but we are willing to ask for loans which we cannot pay back.IK was asking more and more debt before the virus. Now he is asking for debt relief. So it keeps going on and on. IK policies for Pakistan only based on foreign funds. Previous Pak governments had strategies like harbouring terrorists and getting paid in the name of fighting them. All these worked for short terms only but failed in the long run.What is this "Global Initiative on Debt Relief" this is a joke. It is appearing that Pak is representing all countries in a global wide initiative. In fact it is just pak begging not to default on its loans. No country asked Pak to represent them. IK is self appointed.In the current situation each country is bothered about their own economy,including US,UK, Italy, France ,Germany. Oil economies in Middle east are suffering .Even China will suffer if global companies dont buy enough for China to manufacture.US aid will lessen as Afghanistan loses focus. So Mr IK needs to devise a plan that is self reliant rather than depend on favours of other nations, IMF etc.Can someone advice Mr IK on how diplomacy works.. At least he might have had chance of debt relief or write off if he let the diplomats do their job. Now we made an appeal on behalf of all countries. The chance of giving relief for one country and leave another country wont look good... this initiate is meant to be doom from the start.I saw another headline stating more countries line up to China asking for similar relief... Mr IK made his country getting relief chance slim and created trouble for a friend in one shot. Still people comment IK is great.. Guys i am from other side of the country... Dont live in a fools paradise. Do a reality check and calibrate the wants... Otherwise your leader will ask for more money from others which is equal to i am sorry to say begging. I want to see PAK to stand on its own legs... I truly wish we can compete in economics science etc etc. Not who has more missiles.. as we all know having more than 30 or 40 of them doesn't make any difference.Ofcourse numbers won’t increase more than the test done@Ram,that was economic model from centuries,either asking or snatching.. you know deficit /gap filling..@T-man, Indian Govt.is not poor and India does not go around begging.Would Pakistan govt write off debts given to local business and farmers?If you want others to help, first prove you are capable of good governance, and sound financial management. No one wants to see their aid wasted or stolen.@Muqali Khan, Why did you keep electing such leaders?Funds made available used and spent on terrorism and not for useful purpose benefitting citizens. Now asking write off debts.@Amol, Sure.Pakistani citizens and expats can raise money to take care of funds deficiency.@prateek, Yes China, a friend in need will be friend indeed.Pakistan is spending 40% of its gross tax revenue on defense when it has no real outsid threat, and another 40 % for debt service for projects like CPEC and Lahore's Orange Metro which it could not rightfully afford, and now it seeks debt relief? Has it even considered reducing its defense (or offense?) budget first?No body gives you free lunch.You have to pay in some form or the other, whether it is USA ,China ,Russia ,South Arabia etc etcPakistan has proven to be a true leader of everyone of the world’s fragile economies - all three of them including Somalia &amp; Burundi.Why should rich countries do anything for Pakistan?@MG, AgreeAs a PM do u have any boundaries and responsibilities?What happened to CPEC gold mine?@Logicalhuman, ok call for BPS summitTake from Saarc funds@Dr. Salaria, Aamir Ahmad, _ YOU ARE 100% RIGHT, in your beautiful mind, as always!@Karachi, majority of our debt is from steel brother, why doesnt he forgive our debts? not sure why ik is making a big deal just speak to china.Loosing respect day by day.@Ibn Batata, What respect??AdvertisementAdvertisementAdvertisement010203040506070809We need serious and public conversations about how Pakistan will cope with climate change in the future.AdvertisementWe need serious and public conversations about how Pakistan will cope with climate change in the future.Pakistan’s total external debt and liabilities have already surged to 39.7pc of the GDP or $130.2bn.THE ECP’s reasoning for postponing by-elections just days before the first few seats were to be contested has not...The pacers’ early burst put Pakistan on top but midway through the Sri Lanka innings everything started going quickly downhill.There are many precedents for the ‘minus-one formula’ and ‘technical knockout’ in Pakistan’s political history.SOCIAL hyperpolarisation, gradually becoming apparent not just in developing democracies but also in the more ...AFTER over six years since the project was launched, Karachi got its second multicoloured bus rapid transit line to...Advertisement

AdvertisementAdvertisementAdvertisementAdvertisementISLAMABAD: As the Pakistan government stepped up diplomatic efforts for initiating consultations at the United Nations for a collective action on debt relief for developing countries, Prime Minister Imran Khan on Thursday called on the rich countries to do more for fragile economies than just suspending debt servicing.In a telephonic conversation with Egyptian President Abdel Fatteh Sisi, Mr Khan said that measures like debt suspension were helpful for struggling economies, but “more measures were needed to reboot the developing countries’...

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PM Imran asks rich countries to do more for fragile economies

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