Nuhey News

We talk about the MARKET

According to Pakistan’s Foreign Minister, there is a “perfect storm” of crises.

Pakistan’s Foreign Minister Shah Mehmood Qureshi has warned that the country is facing a “perfect storm” of crises, including the coronavirus pandemic, economic slowdown and rising tensions with India.

Speaking at the United Nations General Assembly on Tuesday, Qureshi said Pakistan was already facing a severe economic crisis before the pandemic hit, with a debt crisis, a rising fiscal deficit and a slowing growth rate.

He said the pandemic had made matters worse, as the country had to focus on fighting the virus while dealing with an economic downturn.

Qureshi said the situation on the India-Pakistan border had become “particularly worrying” in recent months, condemning India’s “illegal and unilateral actions” in the disputed region of Kashmir and the “alarming buildup of troops” along the Line of Control.

He urged the UN to step in and help de-escalate the situation, noting that peace and stability in the region was essential for economic growth and development.