KARACHI: Acting Governor State Bank Murtaza Syed has said that developing countries are right to think that they have been left to protect themselves.
In his message on Twitter, Murtaza Syed said that at a time when the world is reeling from successive economic shocks, prosperous countries are surrounded by their own internal problems.
The Acting Governor of State Bank said that the prosperous countries are not attracted to the world reeling from economic shocks by staying in their geographical and political rivalries. “Developing countries are right to think that they were left to fend for themselves,” he tweeted.
2/2 اس دانستہ یا نادانستہ چشم پوشی کے نتائج کو برداشت کرنا بین الاقوامی نظام کے لیے بہت مشکل ہو سکتا ہے۔مرتضیٰ سید (قائم مقام )گورنر اسٹیٹ بینک: https://t.co/u5TAEhXb3I
— SBP (@StateBank_Pak) August 5, 2022
Murtaza Syed said that it may be very difficult for the international system to bear the consequences of this deliberate or inadvertent neglect, while 41 countries are facing the risk of a debt crisis as a result of successive crises.
Governor State Bank stated that this is the most complex global situation in our lifetime which may have far-reaching consequences for the international community.
He said that prosperous countries are focused on Russia’s invasion of Ukraine and prolonged internal economic stagnation, while the rest of the world feels like they are coming out of the global security fence built tirelessly after the Second World War.