Latest World News: Pakistanis should throw away beggar’s bowl, says Army Ch

New Delhi,UPDATED: Jul 25, 2023 12:57 IST

By India Today World Desk: Pakistani army chief Syed Asim Munir has stressed the need to make the country self-reliant in order to end reliance on foreign aid and loans to stabilize its crumbling economy.

He made the remarks at a time when cash-strapped Pakistan recently struck bailout deals with the International Monetary Fund (IMF) to breathe life into the economy, which has been left in tatters due to the political and economic crisis and adverse weather conditions.

Addressing the opening ceremony of the Khanewal Model Farm in Punjab province on Monday, Munir said Pakistan is a “proud, zealous and talented” country.

“All Pakistanis must throw away the begging bowl,” he said, as quoted by Geo News.

READ ALSO | Economy at half mast, Pakistan is losing its brain, at a record pace

Pakistan is set to receive another $600 million loan from its all-time ally China to help bolster the country’s foreign exchange reserves through a deal with the IMF, Prime Minister Shehbaz Sharif has said.

The $600 million loan comes on top of more than $5 billion in loans China has renewed for Pakistan over the past three months, helping the debt-ridden country avoid default.

On June 30, Pakistan secured a final $3 billion bailout from the International Monetary Fund (IMF), which then disbursed a first down payment of around $1.2 billion.

Along with the IMF bailout and Chinese loan, $2 billion in financial support from Saudi Arabia and $1 billion from the UAE after the IMF pact helped stabilize Pakistan’s economy, according to Finance Minister Ishaq Dar, The Dawn reported.

A recent IMF assessment indicated that Pakistan’s economic challenges are complex and multi-faceted and that the risks are exceptionally high. He said the country’s economy is expected to be in a state of flux over the next two to three years at least and face significant risks.

The global financial body has projected Pakistan’s external debt to rise to $130.850 billion in 2023-24 from $123.574 billion in 2022-23.

READ ALSO | Barbie scouting halted in Pakistan’s Punjab, released with cuts

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An Overview of Global Events in 2023

In 2023, the world witnessed a myriad of events that left a lasting impact on global affairs. From political developments and economic shifts to environmental challenges and breakthroughs in science and technology, the year was marked by significant changes and a sense of urgency for collective action. Here’s an overview of some of the latest world news in 2023.

Political Unrest and Diplomatic Strides:
In the political arena, several regions experienced unrest and geopolitical tensions. The ongoing conflict in the Middle East continued to dominate headlines, with efforts towards peace and stability remaining elusive. However, there were also moments of diplomatic breakthroughs as nations engaged in dialogues to ease tensions and work towards lasting solutions.

Economic Transformations:
The global economy faced both challenges and opportunities. Trade disputes between major powers affected markets, while some countries grappled with debt crises. On the other hand, emerging economies showed resilience and promising growth, fueling optimism for a more balanced global economic landscape.

Technological Advancements:
Innovation surged forward in the tech industry, with breakthroughs in artificial intelligence, renewable energy, and space exploration. Quantum computing achieved milestones, promising radical transformations across industries. Renewable energy sources gained traction, with many countries setting ambitious goals to combat climate change.

Climate Crisis and Environmental Resilience:
As the climate crisis intensified, extreme weather events wreaked havoc in various parts of the world. Wildfires, hurricanes, and floods reminded humanity of the urgent need for climate action. In response, governments and communities across the globe doubled down on efforts to reduce carbon emissions, invest in sustainable infrastructure, and protect biodiversity.

Health and Pandemic Management:
Health remained a global priority as countries continued to combat the COVID-19 pandemic. With the emergence of new variants, vaccination efforts and public health measures remained crucial to curbing the spread of the virus. There were also significant advancements in medical research and technology, offering hope for better preparedness in handling future health crises.

Sports and Cultural Milestones:
Amidst the challenges, the world found moments of joy and unity through sports and culture. International sporting events brought together athletes from diverse backgrounds, promoting solidarity and camaraderie. Cultural exchanges and celebrations showcased the richness of human diversity and fostered mutual understanding.

In conclusion, the year 2023 was a dynamic period filled with significant events that shaped the course of history. From political unrest to technological advancements and environmental challenges, the world witnessed the complexities of the global landscape. While obstacles remained, there were also encouraging developments and collaborative efforts towards a more sustainable, peaceful, and prosperous future for all nations. As we move forward, the lessons learned from these events serve as a reminder of the importance of collective action and cooperation to address shared global challenges.