The world economic system, according to foreign minister Bilawal Bhutto-Zardari, is flawed and incapable to assist poor nations in resolving their issues.
Speaking at the closing session of the Group of 77 and China ministerial summit in New York, the youngest foreign minister of the South Asian nation attacked the international system harshly.
According to Bilawal Bhutto, “at least a hundred countries are suffering from economic problems. And millions of people in these countries are compelled to live in hunger and poverty.” “The globe, in particular developing nations, faces an ideal storm of difficulties. The poorest nations are being disproportionately affected by the worst economic downturn in a century. Which is undoing a decade of progress.
He emphasised that “it has also become clear that. The current international economic system has not been able to address the misery of developing countries.” “More than 100 nations are on the verge of financial disaster. There were almost a billion hungry people. The poor countries are experiencing the worst recession of the century, he claimed. He also emphasised that the current flood situation in Pakistan was an illustration of how vulnerable poor countries were to climate change. The deluge that hit a third of the nation this year claimed the lives of more than 1,700 people.
