Pak terms as 'historic, timely' G-20 debt-relief initiative for poor countries fighting coronavirus

Cash-strapped Pakistan on Thursday termed as "historic and timely" the G-20 countries' decision to halt debt payments by the world's poorest nations struggling to fight the coronavirus pandemic.

Foreign Minister Shah Mahmood Qureshi during a press conference here said the decision would provide fiscal space to these countries, including Pakistan, to cope with the situation arising out of the coronavirus pandemic, as the relief was both for interest payment and the principal amount.

"The developing world lacks fiscal space and a proper health system. Therefore, the most appropriate response that other countries can give at the moment is granting debt relief," he said, terming the decision as "historic and timely."