Prime Minister Imran Khan praised the steps to reduce the G20 debt, the International Monetary Fund and the World Bank Instant news

Islamabad, Pakistan: Prime Minister Imran Khan appreciated the debt reduction measures taken by the Group of Twenty, such as Ghost, the International Monetary Fund, and the World Bank, for developing countries including Pakistan.

The Prime Minister echoed the award when his financial advisor, Dr. Abdul Hafeez al-Sheikh, met him in Islamabad on Thursday.

The financial advisor informed the Prime Minister about the approval plan for additional US $ 1.4 billion in concession funding from the International Monetary Fund to deal with the economic impact of the Coronavirus (COVID-19).

Dr. Abdul Hafeez Sheikh, the Prime Minister, renewed the progress of the various components of the economic stimulus package announced by the government.

Foreign Minister Shah Mehmood Qureshi said earlier that day that about 76 developing countries, including Pakistan, would receive debt relief beginning May 1, 2020, initially for one year.

Qureshi pointed out that the Prime Minister’s request to reduce debts and restructure them for developing countries was supported by United Nations Secretary-General Antonio Guterres, the International Monetary Fund and the Group of Twenty at the meeting yesterday.

The foreign minister said that Pakistan spent a third of its income on paying off the debt and that debt relief would be very beneficial to Pakistan.

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