MONITORING DESK
ISLAMABAD: Pakistan’s Foreign Minister Bilawal Bhutto Zardari pressed the United Nations on Saturday to find a way out of the problem of unsustainable debt. He also sought a specific fund for Special Drawing Rights for developing countries.
Bilawal was giving a speech at the final session of the G77 ministerial summit. Regarding 2021, he said due to the persistent economic woes, developing countries were particularly affected last year.
With regard to this issue, Pakistan’s Foreign Minister said that problems posed by debt that is unsustainable need to be solved. For this, in his opinion, unutilized Special Drawing Rights be rechanneled to developing countries. At the same time, as per the UNSG’s proposal, a fresh general budgetary allocation should be worked out.
Developing countries threatened by climate disasters
Citing the megafloods of Pakistan, Bilawal pointed out to the audiences how badly climate disasters were increasingly threatening the most vulnerable countries.
Bilawal opined that it was now clear that the current global system had not made an impactable response to the developing nations’ plight.
