No Result
View All Result
Tuesday, July 1, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    Mahira Khan

    Mahira Khan speaks out against India’s restrictions on Pakistani artists

    File photo

    Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    Mahira Khan

    Mahira Khan speaks out against India’s restrictions on Pakistani artists

    File photo

    Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Uncategorized

PM proposes ten-point agenda at UNGA to avert economic collapse

MM News Staff by MM News Staff
December 7, 2020

ISLAMABAD: Prime Minister Imran Khan has proposed a ten-point agenda to world leaders to avert economic collapse due to the COVID-19 pandemic and called for debt suspension, drawing rights of $500 billion, and return of stolen assets stashed in rich countries.

He was virtually addressing the UN General Assembly’s two-day special session on the response to the deadly coronavirus pandemic and forge a united path forward to better recovery including access to a vaccine.

PM Imran Khan said developing countries are facing a dilemma of how to stimulate the economy and yet at the same time reduce the budget deficit. He said the only way to have the fiscal space to maintain and revive growth is through access to additional liquidity.

Underlining the need for reforming the international financial architecture, he called for building an inclusive and equitable debt management mechanism, constructing a democratic and SDG-focused trading system, and installing a fair international tax regime.

The prime minister also proposed concessional financing to lower-income countries through multilateral development banks; provision of loans at lower costs, mobilizing $100 billion per year for climate action in developing countries, and halting of illicit financial outflows from developing to rich countries.

The prime minister said the COVID-19 pandemic has infected nearly 65 million people and killed close to 1.5 million. He expressed hope that whenever the vaccine is available, it must be offered to everyone.

He said the government provided a relief package of around $8 billion to support the poor and to keep the economy afloat during the pandemic. He proposed a ten-point agenda for urgent action which called for:

  1. Debt suspension till the end of the pandemic for low income and most stressed countries.
  2. Canceling debt of least developed countries.
  3. Restructuring of the public sector debt of other developing countries under an agreed inclusive multilateral framework.
  4. Allocation of special drawing rights of $500 billion.
  5. Expanded concessional financing to lower-income countries through multilateral development banks.
  6. Creation of a new ‘liquidity and sustainability facility’ to provide short term loans at lower costs.
  7. Fulfillment of the 0.7 % official development assistance commitments.
  8. Mobilising the required $1.5 trillion annual investment in sustainable infrastructure.
  9. Achievement of the agreed target of mobilising $100 billion per year for climate action in developing countries.
  10. Immediate action to stop the massive illicit financial outflows from developing countries to rich countries, offshore tax havens, and the immediate return of their assets stolen by corrupt politicians and criminals back to these countries.

The prime minister said the pandemic caused immense human suffering and created the deepest global economic contraction since the great depression of the 1930s. He pointed out that nearly 100 million people in developing countries would fall back into extreme poverty while on the other hand rich countries had injected $13 trillion as fiscal stimulus to revive their economies.

He said developing countries do not have the resources to afford such a massive economic stimulus and are struggling to find even a fraction of the $ 2-3 trillion required to recover from the pandemic. He mentioned Pakistan’s successful policy of ‘smart lockdowns’ and said these efforts were aimed at ensuring that not they save people from the virus, but also prevent them from dying from hunger.

The prime minister said that so far their strategy has worked, but now the country was confronted with a far more aggressive second wave of the virus. He said the government is facing now the challenge of maintaining and reviving economic growth as well as dealing with an increasing number of cases.

He referred to International Monetary Fund (IMF) chief’s advice to the countries to spend as much as it was required to stimulate growth and said that like many developing countries, Pakistan were committed under their IMF program to reduce the budget deficit.

Tags: economic collapsePrime MinisterUNGA
ShareTweetSendShare
Previous Post

Biden and Iran

Next Post

Finance Ministry denies Hafeez Shaikh received NAB notice

Related Stories

File photo
Daily Buzz

Mehr Bano opens up about harassment in the entertainment industry

June 30, 2025
Photo credit Express News
Uncategorized

US woman travels to Pakistan for her online lover

June 30, 2025
File photo
Uncategorized

Pakistan elected UNIDO president first time ever

June 30, 2025
File photo
Uncategorized

Sanam Javed gets bail in anti-state remarks case

June 30, 2025
Justice Sardar Muham­mad Sarfraz Dogar
Uncategorized

Justice Dogar notified as senior-most IHC judge in revised seniority list

June 29, 2025
File photo
Business & Stock

FBR, banks to share data to curb tax evasion

June 26, 2025
File photo
Uncategorized

MDCAT 2025: Expected entry test date in Pakistan announced

June 25, 2025
File photo
Uncategorized

Hunza’s Lexus hotel hit by flash flood

June 25, 2025
File photo
Uncategorized

Malala Yousafzai launches ‘Recess’ to empower women and girls through sports

June 25, 2025
Representational image
Transport

Monsoon rains: PAA issues advisory to pilots over birds

June 25, 2025
Next Post

Finance Ministry denies Hafeez Shaikh received NAB notice

Trending Stories

Forex rates in Pakistan today
Business & Stock

Only five free transfer per month as SBP revises remittance rules

by MM News Staff
July 1, 2025
Top News

Earthquake tremors jolt Lahore, other Punjab cities

by MM News Staff
July 1, 2025
Mahira Khan
Film & TV

Mahira Khan speaks out against India’s restrictions on Pakistani artists

by MM News Staff
July 1, 2025
History
Business & Stock

PSX makes history on first day of fiscal year, sets all-time high

by MM News Staff
July 1, 2025
Attack on Gaza
Top News

Israel attacks Gaza again: 95 Palestinians martyred, death toll exceeds 56,000

by MM News Staff
July 1, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

(File Photo)
Top News

Weather forecast for Karachi today

by MM News Staff
June 30, 2025

The Pakistan Meteorological Department (PMD) has predicted partly cloudy and humid weather for Karachi...

Rain

Monsoon showers hit Karachi, more rain expected in coming hours

June 28, 2025
file photo

Showers continue across Karachi, bringing relief from the heat

June 27, 2025
file photo

Will Karachi receive more rain today?

June 27, 2025
See all

Prices

Foreign Currency Rates
Business & Stock

Foreign currency exchange rates in Pakistan, 1 July 2025

by MM News Staff
July 1, 2025

Foreign exchange rates significantly influence both global and local economic landscapes. They affect everything...

Gold Prices

Gold prices surge in Pakistan, following global uptrend

July 1, 2025
Petroleum Price in Pakistan

Petrol price in Pakistan sees major hike amid inflation pressure

July 1, 2025
Online/File photo

Govt end electricity duty from power bills

June 30, 2025
See all

Transport News

(APP)
Transport

Rs150 billion approved to make Rawalpindi a ‘signal-free’ city

by MM News Staff
June 29, 2025

The Punjab government has approved a record-breaking development package worth Rs.150.0 billion for Rawalpindi...

file photo

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Maryam Nawaz

Maryam Nawaz orders 240 electric buses for South Punjab districts

June 28, 2025

Two planes avoid major accidents following bird strikes at Karachi airport

June 27, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.