Pakistani ambassador to the United States Asad Majeed Khan has said the support received from measures taken to provide debt relief to the coronavirus-hit developing countries helped in coping with a difficult economic situation.
“I must say we received good support,” the Pakistani envoy told the television service of NASDAQ, an American stock exchange.
At the same time, the envoy pointed out that the crisis stemming from the pandemic could not have come at a worse time for Pakistan because the tough economic reforms undertaken by the government over the last one year had just begun to produce results.
“We had started to see the fruits of those measures in terms of improved growth rate, in terms of enhanced exports, in terms of greater industrialised activity but because of coronavirus, you know, it has unfortunately thrown a spanner in the works for us,” Ambassador Khan said.
Elaborating the steps related to the Global Debt Initiative, Ambassador Khan said Pakistan availed about $1.4 billion from the International Monetary Fund’s Rapid Finance Facility when the country was cash-strapped.
Replying to a question, the Pakistani envoy said that the United States has been generous in providing a much-needed capacity building support to Pakistan.
In addition, he said, the Association of Physicians of Pakistani Descent of North America (APPNA) as well as the Pakistani-American diaspora had made important contributions.
Ambassador Khan also said that Pakistan has a liberal and deregulated investment regime that makes it an attractive destination for investors.
