FM Qureshi discusses debt relief initiative with IMF representative

ISLAMABAD: Foreign Minister Makhdoom Shah Mahmood Qureshi held a meeting with the resident representative of International Monitory Fund (IMF) Ms Teresa Daban Sanchez. discussing the aftermath of the COVID-19 pandemic.

While acknowledging the important role of the IMF, the foreign minister exchanged views on the measures being taken by Pakistan to contain the pathogen and address the associated socio-economic challenges.

Referring to the enormous challenges posed by COVID-19, the foreign minister highlighted Prime Minister Imran Khan’s appeal for a ‘Global Initiative on Debt Relief’ for developing countries to enable them fiscal space to combat the disease, save precious lives, and shore up economies.

The foreign minister welcomed announcements by the G20, IMF, World Bank and others on debt service suspension initiative for debt stressed countries. He underscored that any initiative for supporting the developing countries to combat COVID-19 ramifications should be inclusive and without onerous conditionalities.

The meeting was a follow-up of the prime minister’s initiative to bring together important stakeholders on a platform to promote coordinated health and economic response. It was agreed to continue to closely engage on COVID-19 and on other matters of mutual interest.