Aurangzeb calls for reforms in global financial sy...

Summary

• ISLAMABAD: Federal Finance Minister Senator Muhammad Aurangzeb has called for comprehensive reforms in the international financial system to address the growing economic challenges faced by developing countries, stressing the need to make global financial institutions more responsive to their development priorities.
• The finance minister highlighted several challenges affecting developing countries, including increasing global divisions, disruptions to international trade and investment, the adverse effects of climate change, tightening financial conditions and a shortage of resources for development.
• Aurangzeb said the international financial system must place development at the centre of its objectives and ensure that developing countries receive adequate support to address their economic needs.

AI Generated Summary

ISLAMABAD: Federal Finance Minister Senator Muhammad Aurangzeb has called for comprehensive reforms in the international financial system to address the growing economic challenges faced by developing countries, stressing the need to make global financial institutions more responsive to their development priorities.

Addressing a meeting of the Group of 24 (G24), Aurangzeb said Pakistan would use its upcoming presidency of the group to advocate for the interests of developing economies and work towards practical solutions to the financial and economic difficulties they face.