PM Imran Khan calls for return on assets stolen from Developing Countries.

The premier said that Pakistan warmly welcomes the proposal from the IMF Managing Director to create 650 billion dollars in new SDRs, and appreciate the support for this from the largest shareholders, including the US, China, the EU and Japan.

“The IMF, the World Bank and other development banks now have an ample capacity to enlarge concessional financing for developing countries. The forthcoming IDA replenishment should be enlarged to 60 billion dollars.”

He said that the developing countries should also be able to borrow from the markets at the prevailing low interest rates which are available to developed countries. “The liquidity and sustainability facility, proposed by the Economic Commission for Africa, could be one of the ways to achieve this.”

PM Imran Khan said that the panel on Financial Accountability, Transparency and Integrity (FACTI) has proposed 14 recommendations to halt the outflow of trillions of dollars from developing countries.

PM Imran reiterated that the developed nations must fulfill their commitments under the Paris Agreement and mobilise 100 billion dollars annually in climate finance as they have promised. “50 per cent of this must be devoted to adaptation programmes of developing countries,” he added.

About the Author

Fatima Majeed has been associated with the profession of Journalism for the last seven years. During this tenure, she has worked in different roles in various popular media houses. Since 2014, she has been working as an Urdu and English News Editor, Social Media Reporter as well as Youtuber. In this profession, she presents the latest news, organizes it in a proper meaningful way, and brings social and political issues in limelight with the power of her pen...

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