Bilawal Bhutto slams world economic system for failing to help poor countries

Foreign Minister Bilawal Bhutto-Zardari has said that the current global economic system has not been efficient enough to deal with the problems of developing countries.
Developing countries are facing economic challenges, he said, while concluding the session of the Group of 77 and China ministerial conference in New York on Saturday.
“At least a hundred countries are reeling from the economic crises and millions of people in these countries are forced to face a life of hunger and poverty,” he said.
“The world, especially developing countries, faced a perfect storm of challenges. The deepest economic recession in a century is disproportionately affecting the poorest countries and reversing a decade of development,” he emphasised.

“It also has become evident that the existing international economic system has been unable to respond to the plight of developing countries,” he asserted. “Over a hundred countries faced financial collapse. Over a billion people faced hunger and the destitute.”
He said that the most severe recession of the century is impacting poor countries as it has shifted the direction of development that was achieved over the last decade.
Bilawal pointed out that an increasing number of climate change-caused calamities are affecting poor countries as the recent flood disaster in Pakistan is an example of the catastrophe.