World Bank Leverages Poor Countries By Holding Up Debt Payment

There are 76 countries on the list and Pakistan is one of them.

The World Bank and International Monetary Fund have released a joint statement in which they made it clear that they will put the debt payments of poor countries on hold amidst Coronavirus outbreak.

The official bilateral creditors to defer all the debt payments from the International Development Association (IDA) countries which have been requesting lenience because of the COVID-19 spread.

Pakistan is also in the list of those 76 countries that meet the requirements of the IDA resources. The debt relief has also been acquired before when Pakistan stood with the US on their stance war against the terror back in 2001.

Hammad Azhar, Federal Minister for Economic Affairs has not revealed anything about the current progress and is yet to make a statement.

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