Prime Minister Shehbaz Sharif on Wednesday departed for France to attend global financing summit in Paris.
He tweeted tbat the reform of international financial architecture has long been a key demand relentlessly made at different forums by public policy scholars, policy practitioners and world leaders especially from the Global South.
Prime Minister said that the grave nature of challenges such as climate change, natural disasters, environment, rising levels of debt and energy transitions has rung alarm bells.
He added that the globalisation of the problems has necessitated the need for creative approaches to rethink the global financial system to make it representative and equitable.
This is where the New Global Financing Pact Summit in France represents a unique opportunity to the world to come together and agree to broad principles and steps needed for a comprehensive reform of the international financial system, the premier said.
“During my visit to France, I will present Pakistan’s position on the need for restructuring of international financial institutions to fight the contemporary challenges facing humanity,’ PM Shehbaz Sharif said.
The reform of international financial architecture has long been a key demand relentlessly made at different forums by public policy scholars, policy practitioners & world leaders especially from the Global South. The grave nature of challenges such as climate change, natural…
— Shehbaz Sharif (@CMShehbaz) June 21, 2023
As a leading stakeholder in G-77 plus China grouping and also as a country adversely hit by climate change threat, Pakistan is better positioned for this role.
