Pakistan calls for global debt restructuring

Pakistan has called for reforming the international debt architecture to make it more equitable, sustainable, and responsive to the needs of developing countries.

"In the absence of a predictable global system for restructuring debt, most countries facing debt-distress are opting to continue servicing their debts, at the cost of diverting resources from areas critical for long-term growth and development, such as health and education," Senator Syed Faisal Ali Sabzwari told the Annual Parliamentary Hearing, a joint initiative of the President of UN General Assembly (UNGA) and the Inter-Parliamentary Union (IPU).