Prime Minister Shehbaz Sharif met with French President Emmanuel Macron during the New Global Financing Pact Summit in Paris. Shehbaz highlighted the challenges faced by developing countries, such as limited resources and the burden of debt payments. The summit aims to establish a new global financing system to address climate change, biodiversity, and development challenges, and to achieve the Sustainable Development Goals. Over 50 countries are participating in the event.

The premier expressed gratitude to Macron for the invitation to the summit and praised his efforts to create a system based on financial justice for developing nations. Shehbaz emphasized the need for assistance to indebted developing countries and appreciated Macron’s support for this cause.

During the summit, Shehbaz also met with Saudi Crown Prince Mohammad Bin Salman and discussed strengthening bilateral cooperation. They exchanged views on matters of mutual interest and extended good wishes to each other’s countries.

The prime minister arrived in Paris a day before the summit and was received by Pakistan’s ambassador and French government officials. He tweeted about presenting Pakistan’s position on restructuring international financial institutions to address contemporary challenges.

The summit in Paris aims to find financial solutions for developing countries facing challenges, particularly climate change. Global leaders, including the UN Secretary-General and the US Treasury Secretary, are in attendance. The summit is also receiving attention from climate activists and will feature a concert by Billie Eilish.

Shehbaz also met with IMF Managing Director Kristalina Georgieva, informing her of the steps taken to address Pakistan’s economy. He expressed hope for the release of funds allocated under the Extended Fund Facility to support economic stabilization. The meeting provided an opportunity to review the progress in the ongoing review process with the IMF.

Overall, the summit in Paris focuses on financial reform to support developing countries and address global challenges.

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By hassani

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