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Pakistan thwarts Indian opposition at G-24 Ministerial meeting for flood economic damages

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Pakistani delegate Dr. Saeed Ahmed Senior Advisor IMP representing Pakistan at IMF Executive Board succeeded in getting recognition of devastating floods in Pakistan in communique at prestigious forum of G-24 Ministers and Governors in the meeting despite strong objection by India to mention Pakistan’s floods in G-24 communique.

Dr. Saeed explained to forum intensity of catastrophe , economic damages and suffering of a large part of Pakistan’s population . India stiff opposition to recognizing it was thwarted by successful economic diplomacy of Pakistan’s representative.

Iran, South Africa, Nigeria, Morocco and other countries supported Pakistani statements in communique and G24 forum rejected India’s opposition.

G-24 ministerial meeting held in Washington DC on October 11 recognized that Pakistan is disproportionately bearing heavy losses from extreme climate related events in form of devastating monsoon floods.

Intergovernmental group of Twenty-Four on International Monetary Affairs and Development communique said, “ We echo calls at 2022 United Nations general assembly for developed countries and MDBs to step up climate actions and financing for mitigation, adaptation , as well as loss and damage to supporting developing countries that entitled least GHGs leading to climate change but are now disproportionately  bearing heavy losses from extreme climate related events, such as devastating monsoon floods in Pakistan and hurricanes in several countries.

We commend country platform initiatives made by some member countries to facilitate climate finance, which could be replicated in other countries.

We look forward to successful outcomes of COP 27, According to Forum “Climate and sustainable finance, however fall far short for addressing historical responsibility and what will be needed by developing countries to meet climate and development goals”.

“Developing country policy makers already face major fiscal constraints to invest in better recovery and meet SDGs. It is time for developed countries to fulfill the pledges they made on climate finance. They should urgently annually deliver $ 100 billion climate financing commitment they pledged to support developing countries and significantly increase this target in years ahead under a new collective quantified goal for climate finance”.

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