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At UN, Pakistan urges measures to offset shocks to global economy

UNITED NATIONS: Speaking on behalf of the “Group of 77” (developing countries and China), Pakistan called for emergency measures to overcome the recent  “shocks” to the world economy, including the coronavirus pandemic and the spike in commodities prices that disproportionately impacted the developing countries.

“The severe global economic shocks caused by Covid-19, geopolitical instability, market volatility, have raised the sceptre of the food, finance, debt crisis and created challenges to energy security and reversed progress towards the Sustainable Development Goals (SDGs),” Ambassador Munir Akram, Pakistan’s permanent representative to the UN, told the Second Committee of General Assembly which deals with economic and financial matters.

Speaking in a debate on sustainable development, he said that despite best efforts, developing nations are struggling to achieve notable progress on a wide range of goals and…

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