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Tuesday June 22nd, 2021
Economy

Pakistan briefs Sri Lanka about global debt relief proposal, Covid-19 at Foreign Secy meet

ECONOMYNEXT – Pakistan has briefed Sri Lanka about Prime Minister Imran Khan’s intiatie for debt relief for developing countries and has also discussed Covid-19 initiatives and strengthening trade and defence links.

“Foreign Secretary Sohail Mahmood underscored the exceptional quality of bilateral political relations and rapport at the leadership level,” Pakistan’s Foreign Ministry said following a virtual meeting with Sri Lanka counterpart Jayanath Colombage, a retired admiral.

“He underlined that the bilateral trade and economic ties must also be made commensurate with excellent political relations.”

Sri Lanka has placed import controls after the currency came under pressure amid money printing. Pakistan is also under an International Monetary Fund program.

Secretary Sohail Mahmood had briefed Sr Lanka about Prime Minister Imran Khan’s ‘Global Initiative on Debt Relief’ for the developing countries.

Pakistans Express Tribune newspaper reported that the country was expecting 1.8 billion dollars of debt relief from G-20 nations for 2020 including 613 million dollars from Saudi Arabia, 309 million from China, 183 million from France, 373 million from Japan.

With G-20 nations extending relief for another six months Pakistan is requesting about 913 million dollars from G-20 nations the report said. (Colombo/Dec18/2020)

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