Finance Minister Muhammad Aurangzeb has called for reforms in international financial institutions to better address the debt crisis in emerging economies like Pakistan.
Speaking at a high-level session at the Boao Forum for Asia Annual Conference 2025 in China, the finance minister stressed the need for debt relief and financial justice through restructuring sovereign debt mechanisms to prevent cyclical debt crises.
He said debt crises are impeding the economic growth of many emerging economies, including Pakistan, read a statement released by the Finance Division on Wednesday.
Noting that the global debt has soared past $100 trillion, with over 60% of low-income countries at risk of debt distress, Aurangzeb called for reforms in…
