New York: The United Nations Development Program (UNDP) says that Pakistan should get relief in paying international debts.
The UNDP paper further states that flood-affected Pakistan should suspend international debt payments. Floods in Pakistan have created a major humanitarian crisis and damaged Pakistan's economy. Pakistan should request the lenders and countries to reschedule it. The aim of this initiative is to deal with the crisis and damage caused by climate change.
The biggest lender to Pakistan is China, which has provided 30 billion dollars to Pakistan under the Belt and Road Initiative. Other countries providing loans to Pakistan include Japan, France, World Bank and other commercial bond holders.
30 million people have been affected by the devastating floods in Pakistan and 300 million dollars have been lost.
