Qureshi called on Chinese partners to seek support for global debt reduction initiatives | Instant News

By Sajjad Hussain

Islamabad, April 15 (PTI) Pakistan’s Foreign Minister Shah Mahmood Qureshi on Wednesday summoned his Chinese counterpart Wang Yi to seek Chinese support for a global initiative to provide debt relief to developing countries fighting the new pandemic coronavirus virus.

The Foreign Office said in a statement that Qureshi underlined that COVID-19 had a devastating effect on the global economy and that the consequences were far more severe than the great depression.

“The impact on developing countries will be very severe,” he said, adding that taking into account these factors, Prime Minister Imran Khan has appealed to the world community to work to provide debt relief to developing countries.

The foreign minister asked for Chinese support for this initiative, including on the G-20 platform.

The group of 20 nations announced support Wednesday for a temporary halt to debt payments by the world’s poorest countries as they struggle to deal with the coronavirus pandemic.

Finance ministers from the main G-20 economic groups, which include the US, China, India and others, said they would soon withstand the obligations of poor countries to repay their debts.

Qureshi during his call to Wang underlined that Pakistan and China are All Weather Strategic Partners in Cooperation and have preserved traditions of solidarity, mutual assistance and mutual support and thanked China for extending solidarity and material and material support to Pakistan immediately after the outbreak from COVID-19.

Qureshi said that the generous donations and assistance sent by China to Pakistan to contain the corona virus were highly valued by Pakistan and its people.

Wang thanked him for reaching China and assured that China would support initiatives in the G-20 and other relevant forums.

He said that COVID-19 had posed a great danger to the economy and global stability and needed coordinated and equitable efforts to deal with its impact.

He also stated that during President Arif Alvi’s recent visit to China, Pakistani and Chinese leaders had reached a consensus to jointly fight COVID-19.

The new corona virus, which originated from the city of Wuhan in central China in Hubei province late last year, has so far killed more than 1,20,000 people worldwide. PTI SH PMS

Disclaimer: – This story has not been edited by Outlook staff and is generated automatically from the news agency feed. Source: PTI

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