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Guterres take up ‘debt swaps with IMF, WB

KARACHI:

UN Secretary General António Guterres on Saturday said his organization would be resolutely advocate for ‘debt swaps with International Monetary Fund (IMF) and the World Bank, through which countries including Pakistan — instead of payment back loans to foreign creditors — could use what money invest in climate resilience, investment in sustainable infrastructure and green transition of their economies.

“We will go on strongly in favor of for these solutions in meetings with the IMF and the World Bank, which will take place soon as well as at the G-20 meeting,” Guterres said media on his arrival at the old airport of Karachi.

PPP Chairman and Foreign Minister Bilawal Bhutto-Zardari; Federal Minister for Planning, development and special initiatives Ahsan Iqbal; and Sindh Chief Minister Murad Ali Shah was among those present on happening.

Guterres turned to international community to scale up this is support for flood-hit Pakistan.

“We see here in Pakistan, nature catches the eye back with devastating consequences,” he remarked, adding: “I have seen many disasters in in world but i’ve never seen climate slaughter on these scales.

See also: unimaginable flood devastation, says UN Secretary General during a visit to Sukkur

The head of the UN said that he simply did not have the words to describe what he saw today.

He said families lost their homes and farmers lost their crops and livestock.

“The most emotional moment for during this visit I had to listen group of women as well as men who donated their property, although there was an opportunity of salvation, he said.

“Poor people touched me deeply. I want pay tribute to the gigantic efforts of Pakistani authorities – civil and military, national and regional,” he said. added.

The head of the United Nations stressed need for bulk and urgent financial support for Pakistan.

“It’s not a question of solidarity and generosity, but this is a question of justice,” he added.

Guterres said Pakistan is paying price of a problem — climate change — created by others.

He also said that climate change caused human activity was super charging storms and catastrophes.

The head of the UN said that burning of fossil fuels were eating our planet.

“Big Twenty” countries are responsible for 80% of these emissions,” he said. added.

See also: UN Secretary General visits Mohenjo-Daro, assures support for preservation

He emphasized that all countries with G-20 leading in way should raise them national emission reduction targets every year until a temperature limit of 1.5 degrees Celsius was guaranteed.

Pakistan responsible for less than one percent of global greenhouse gas emissions, but ranked eighth on a list compiled by the NGO Germanwatch of countries most vulnerable to extreme weather caused climate change.

“I demanded very clearly that world should take the program seriously of in- deep relief for development countries including middle income countries including Pakistan, which on facet of extremely difficult financial situation,” he said.

“It is absolutely necessary to create new mechanism,” he said.

Speaking on On this occasion, Bilawal said that the whole nation was incredibly distressed.

He added that september was the busiest month for Guterres with The UN General Assembly, which will be held at the end of this month.

“UN secretary general took out it’s time to visit Pakistan in person in Nowadays of difficulty and became a witness first-manual emptying that was caused catastrophic monsoon rains that we faced for many months,” he said.

Bilawal said the head of the UN had spent the previous day in Islamabad receiving briefings from the National Flood Response Center.

“Today with with Prime Minister Shehbaz Sharif, we accompanied the UN secretary general visit flood-hit areas of Balochistan. He added what is he met in flood-affected people. Later, foreign minister said that Guterres visited flood-affected areas of Sind.

During his quick tour, Guterres stopped at some of these makeshift camps and met with desperate flood victims, including a woman who gave birth overnight.

Wearing a headscarf Airak with a traditional Sindhi woodcuts, he later inspected 4500-year-old unesco world the heritage site of Mohenjodaro, which suffered flooding due to the incessant monsoon rains.

Chief of Sindh minister rate of in cost of rehabilitation and upgrade of $16 billion infrastructure or over 3.5 trillion rupees.

Description of both the monsoon rains and the outbreaks that followed flood as historical, he informed the head of the UN that on 24 out of 30 districts in Sindh was declared a disaster hit. Six of seven districts in Karachi also suffered extensive damage of infrastructure, but were not among the emergencyhit areas.

He told Guteres that the province received an average of 1100% higher precipitation in comparison with normal monsoon rains for two months of July and August each year.

Murad gave examples of Some parts of Naushero Feroze, Larkana and Jakobabad districts where 1763 mm, 990 mm and 783 mm of precipitation were recorded. in two months respectively. This area used to be rainy of 86mm, 60mm and 62mm respectively, in monsoon season.

Chief of Sindh minister told the head of the UN that rehabilitation of damaged and destroyed houses required 900 billion rupees; restoration and renewal of irrigation and drainage network 195 billion rupees; repair and reconstruction of roads 45 billion rupees; purchase of livestock 50 billion rupees; and farmers support 50 billion rupees.

Infrastructure reconstruction in Karachi would need not less than 60 billion rubles.

(According to agencies)

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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