Shahbaz Sharif fears ‘everything will be over’ without debt relief
Pakistan Prime Minister Shahbaz Sharif has made an urgent appeal to rich countries for relief in repayment of debt as the debt liability is over and reminded of the devastation caused by the floods, saying that Pakistan is bearing the brunt of environmental damage. Geo News reported that, according to Sharif, there is a yawning gap between what Pakistan is asking for and what is available, warning that the country is facing a pandemic and other threats. In a conversation with Bloomberg TV, Sharif said that Pakistan has recently signed an agreement with the IMF under very difficult conditions, including taxes on petroleum and electricity. Seeking support for Pakistan affected by devastating floods this monsoon, which is already battling with a stressed economy, Sharif said, how can the world expect us to stand on our feet unless we get adequate relief , this is impossible. The world has to stand with us.
In response to a question about debt obligations, he said, he has spoken to European leaders and other leaders to help us, at the Paris Club, get a moratorium. According to the Geo News report, Sharif told that he has spoken to the World Bank about immediate debt relief and will start talks with China after the Paris Club.