The weight of external debt hangs heavy on Pakistan’s shoulders, a constant reminder of a financial vulnerability that hinders investments in crucial areas like infrastructure and climate adaptation. Traditional debt financing often comes at exorbitant interest rates, further straining the national budget and squeezing the space for critical spending. This financial pressure coincides with a looming environmental threat – climate change. Erratic weather patterns, floods, and droughts wreak havoc on Pakistan’s economy and infrastructure, acting as a constant reminder of the nation’s precarious position.

However, amidst this seemingly bleak scenario, glimmers of hope emerge. International initiatives offer potential solutions, presenting a lifeline for Pakistan to navigate the treacherous terrain of debt and climate challenges. The recent Spring Meetings of the IMF and World Bank offered promising developments. A growing recognition of the urgency of climate action and the need for debt relief for developing countries emerged from these discussions. This shift in global consciousness presents a crucial window of opportunity for Pakistan. By seizing this momentum, championing these international initiatives and strategically aligning its policies, Pakistan can navigate the treacherous terrain of debt and climate change, charting a course towards a more prosperous and sustainable future. Through a combination of advocacy, collaboration, and strategic planning, Pakistan can unlock the potential of initiatives like the Bridgetown Initiative and the V20 Group’s Accra-Marrakech Agenda. However, amidst this seemingly bleak scenario, glimmers of hope emerge. International initiatives offer potential........

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