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DEBT SERVICE SUSPENSION INITIATIE

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DEBT SERVICE SUSPENSION INITIATIE

 

Background

On April 12, Prime Minister of Pakistan, Imran Khan (PMIK), urged the world leaders, the UN Secretary-General, and heads of financial institutions across the globe to give debt relief to developing countries like Pakistan so that they could combat the deadly Covid-19 in a better way. Highlighting the need for such a relief, PMIK said that the biggest challenge for nations in the developing world was to save their people from dying of the pandemic and hunger due to extended lockdowns triggered by the disease. Three days later, United Nations (UN) Secretary-General, Antonio Guterres, echoed PMIK’s call for a global initiative for debt relief saying such a measure must be an “important part” of the response to the coronavirus pandemic sweeping the world.

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