CORONAVIRUS: IMF provides major debt relief to Pakistan

ISLAMABAD: The International Monetary Fund (IMF) will provide Pakistan with a one year debt relief as the country fights with the coronavirus pandemic and deals with the economic impact.

The decision comes shortly after the G20 nations decided to give a one year relief to the world’s poorest nations to help them with their struggle and handling of the coronavirus.

Foreign Minister Shah Mehmood Qureshi said, “Prime Minister Imran Khan had appealed to the IMF for debt relief for developing countries which was accepted by the Fund. IMF has announced it would give one year relief to 70 developing nations including Pakistan.”

Prime Minister Imran Khan said that the coronavirus pandemic had unprecedented challenges when it comes to health and the economy and appealed for a “Global Initiative on Debt Relief” and that the only way to contain the crisis was through working together with a strong and coordinated response.

The Washington based organization would be providing the relief for a period of one year starting 1 May according to Foreign Minister Qureshi.

Prime Minister Imran Khan lauded the decision to provide relief that would help Pakistan contain the spread of the coronavirus and spend more on its health sector which has been neglected.

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