South Asian leaders call for cooperation on coronavirus

File photo of flags of SAARC nations. (Reuters)
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Updated 15 March 2020
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South Asian leaders call for cooperation on coronavirus

  • Pakistan was represented by Zafar Mirza, a special assistant to PM Khan
  • Indian PM Modi proposed creating a Covid-19 emergency fund

NEW DELHI: Leaders and officials from the eight South Asian nations held a video conference Sunday calling for closer cooperation to combat the spread of the coronavirus in the region, which is home to a fifth of the world’s population.

Indian Prime Minister Narendra Modi, who initiated the conference, proposed creating a Covid-19 emergency fund to be used by South Asian nations to combat the spread of the disease.

Presidents and prime ministers from Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka, and a representative from Pakistan, shared steps taken by their governments in their efforts to control the spread of the virus.

Pakistan was represented by Zafar Mirza, a special assistant to Prime Minister Imran Khan.

The eight nations are members of the South Asian Association for Regional Cooperation, or SAARC, which was formed in the 1980s to boost economic and regional cooperation between the countries. However, the rivalry and disputes between India and Pakistan have stalled the group’s progress.

“We must all prepare together, we must all act together, we must all succeed together,” Modi said.

Afghan President Ashraf Ghani said his main concern was his country’s open border with Iran, which has been hit especially hard by the new virus. Maldivian President Ibrahim Mohamed Solih and Sri Lankan President Gotabaya Rajapaksa both said they were worried about their island nations’ drop in tourists.

Bangladeshi Prime Minister Sheikh Hasina proposed holding a conference among health officials from South Asian countries.
The virus has infected more than 156,000 people worldwide and killed over 5,800.

While the coronavirus can be deadly, particularly for the elderly and people with other health problems, for most people it causes only mild or moderate symptoms, such as fever and cough. Some feel no symptoms at all and the vast majority of people recover.


Pakistan receives $1.2 billion from IMF under EFF, RSF loan programs— central bank

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Pakistan receives $1.2 billion from IMF under EFF, RSF loan programs— central bank

  • IMF Executive Board approved Pakistan’s second review under EFF, first review under RSF loan programs this week 
  • Disbursements from IMF have been crucial for cash-strapped Pakistan as it tries to recover from economic crisis 

ISLAMABAD: Pakistan’s central bank announced on Thursday that it has received $1.2 billion under the International Monetary Fund’s (IMF) External Fund Facility and Resilience and Sustainability Facility (RSF) loan programs. 

The IMF approved a $7 billion bailout package for Pakistan under its EFF program in September 2024 while in May 2025, it approved a separate $1.4 billion loan to Pakistan under its climate resilience fund. The RSF will support Pakistan’s efforts in building economic resilience to climate vulnerabilities and natural disasters. 

The global lender approved Pakistan’s second review under its $7 billion EFF program and first review under the RSF loan on Tuesday. As per the State Bank of Pakistan (SBP), the central bank received a combined sum of $1.2 billion under the EFF and RSF on Dec. 10. 

“The amount would be reflected in SBP’s foreign exchange reserves for the week ending on Dec. 12, 2025,” the SBP said in a statement. 

IMF bailouts have been crucial for cash-strapped Pakistan, which has been struggling with a prolonged economic crisis that has exhausted its financial reserves and weakened its currency. Pakistan came to the brink of a sovereign default in 2023 before a last-gasp IMF bailout package helped it avert the crisis. 

Pakistan has had to take tough decisions to comply with the IMF’s loan requirements, which include scrapping subsidies from food and fuel items to trigger inflation. Since then, Pakistan has attempted to regain stability by sharply reducing inflation and recording a current account surplus. 

The disbursement, however, comes at an important time for the South Asian country as it mitigates losses from a deadly monsoon season that killed over 1,000 people since late June and caused at least $2.9 billion in damages to agriculture and infrastructure.