• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home World

Flood-hit Pakistan should suspend debt repayments, says UN paper

by Suneela Zulfiqar
September 23, 2022
in World
Reading Time: 1 min read
Flood-hit Pakistan should suspend debt repayments, says UN paper
Share on FacebookShare on Twitter

According to a UN policy memo seen by the Financial Times on Friday, Pakistan should halt foreign debt repayments and restructure debts with creditors after recent floods worsened the nation’s financial predicament.

According to the publication, the document urges the country’s creditors to explore debt relief so that decision-makers can give funding for its disaster response precedence over loan repayment. The UN Development Program will share the message with the government this week.

The government of Pakistan has already put the cost of the damage at $30 billion, and UN Secretary General Antonio Guterres has attributed the flooding to climate change.

Guterres repeated the appeal he first made during his visit where he urged lenders to consider debt reduction to help those nations that were facing a possible economic collapse.

At the UNGA, he reiterated, “Creditors should take into account debt reduction tools such debt-climate adaption swaps.” These may have helped Pakistan, which is drowning in debt as well as floodwater, preserve lives and livelihoods.

Tags: debt repaymentsFlood-hit PakistanlatestUN Development ProgramUN paper
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Abu Dhabi Is the World’s Newest Wealth Haven for Billionaires

Abu Dhabi Is the World’s Newest Wealth Haven for Billionaires

For decades, the world's wealthiest individuals have traditionally opted to secure their fortunes in offshore havens, ranging from the Cayman...

Australia Proposes a 50% Reduction in Migrant Intake as Part of New Plan

Australia Proposes a 50% Reduction in Migrant Intake as Part of New Plan

The Australian government unveiled a decade-long immigration strategy on Monday to overhaul its perceived "broken" immigration system. According to the...

Pakistan Expected to Extend Deadline for Hajj Applications

Pakistan Expected to Extend Deadline for Hajj Applications

With only 28,782 applications received so far, Pakistan is considering extending the deadline for submitting Hajj applications under the government...

Pakistan disappointed by UNSC's Failure to Agree on Gaza Ceasefire

Pakistan disappointed by UNSC’s Failure to Agree on Gaza Ceasefire

Pakistan expressed deep disappointment over the UN Security Council's failure to call for a ceasefire in Gaza, where Israel's ongoing...

McDonald's launches CosMc to counter Starbucks

McDonald’s launches CosMc to counter Starbucks

McDonald's has introduced a new restaurant concept named CosMc, set to compete with Starbucks. The inaugural location, opening in Bolingbrook,...

https://www.economy.pk/putin-visits-middle-east-for-discussions-on-oil-with-saudi-crown-prince/

Putin Visits Middle East for Discussions on Oil with Saudi Crown Prince

Russian President Vladimir Putin is on a rare trip abroad, meeting with Saudi Crown Prince Mohammed bin Salman in Saudi...

Next Post
Pakistan, Iraq agree to launch ferry service for zaireen

Pakistan, Iraq agree to launch ferry service for zaireen

Recent Posts

  • Toyota Prius Wins Car Of The Year 2023-24
  • Abu Dhabi Is the World’s Newest Wealth Haven for Billionaires
  • Australia Proposes a 50% Reduction in Migrant Intake as Part of New Plan
  • SBP Likely to Keep Key Policy Rate Steady in Tuesday’s Monetary Policy Committee Meeting
  • Pakistan Disapproves of Indian Supreme Court’s Ruling on illegally occupied Jammu and Kashmir

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk