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Buhari holds talks with Pakistan Prime Minister over debt relief
President Muhammadu Buhari Thursday held a telephone conversation with the Prime Minister of Pakistan, Imra Khan.
According to a statement issued by Femi Adesina, the Special Adviser to the President on Media and Publicity, the discussion revolved around the Global Initiative on Debt Relief advocated by the leaders of the Non-Aligned Movement Contact Group.
“During an online summit held on Monday, leaders of the 120-nation organization, the largest after the United Nations, had agreed that a debt relief campaign be launched for developing countries to deal with the COVID-19 pandemic and unprecedented health and socioeconomic challenges facing most of them,” Adesina said.
Buhari had during a web conference of heads of states and governments on Monday said national, regional and global measures were needed to combat the coronavirus pandemic.
Read also: Foreign reserves rise for first time in 11 months, up by $449.5m
“Within the spirit of south-south cooperation, we must also assist one another, particularly the less developed and less endowed member states with technical, medical and financial assistance.
“It is by so doing that we can rightly claim to uphold the Bandung Principles of equality, mutual interests and cooperation,” he stated.
The president recommended that international financial institutions offer concessional loans, technical assistance, reduction of tariff on medical equipment and consumables, sharing of expertise in case management, adopting open trade policies and outright debt cancellation to support developing countries.
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