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As tensions between global powers continue to escalate with the rise of new and old military and political blocs, “geo-politics is resurging when geo-economics should be at the top of the international agenda”, the Prime Minister of Pakistan told the UN General Assembly on Friday. (220923)
Addressing the Assembly’s annual general debate, Anwaar-ul-Haq Kakar, said, “the world cannot afford Cold War 2.0,” because there are a raft of challenges facing humankind that can only be addressed through global cooperation.
Indeed, a series of external “shocks” – COVID-19, climate change and conflict – have devastated developing economies, reversed decades of progress, and left hunger and poverty in their wake, he said, and his own country is a “prime illustration” of these shocks.
“The epic floods of last summer submerged a third of our country, killed 1,700 and displaced over eight million people, destroyed vital infrastructure and caused over $30 billion in damage to our economy,” he said.
Considering these formidable challenges, especially for nations facing debt distress, the Prime Minister stressed the urgency of implementing the SDG Stimulus package.
He also called for the expansion of concessional lending by multilateral development banks and urged developed countries to fulfill their commitments for climate finance.
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