Tag: floods

  • Eight million flood-affected people need immediate medical attention, $81m: WHO

    Eight million flood-affected people need immediate medical attention, $81m: WHO

    The World Health Organization has issued a warning that the flood-affected areas of Pakistan are becoming more dangerous as eight million people are in need of immediate medical attention.

    According to WHO Regional Emergency Director Dr Richard Brennan, deteriorated infrastructure, stagnant water and insufficient sanitation facilities are all contributing to an increase in public health hazards.

    He said that massive amounts of lingering floodwaters had served as mosquito breeding grounds, causing an ongoing malaria outbreak in 32 regions across the nation.

    According to Dr Brennan, it will be difficult for relief organisations to handle the crisis. 

    He said that more than $81.5 million was required to address the health crisis in Pakistan’s flood-affected regions in order to ensure coordinated provision of critical medical services, effective management of severe acute malnutrition, and more effective epidemic identification and control.

    The UN has issued a warning about a “second wave” of disaster, with the possibility that the 1,700 people who drowned and died from electrocution in the original cascade may be outnumbered by those who die from water-borne illness and starvation.
    As many as 33 million people of the 220 million South Asian nation have been affected in some way by the floods that swept away houses, roads, railways and bridges and submerged around 4 million acres of farmland.

  • Climate Change: Floods in Nigeria kills at least 600 people

    The death toll from devastating floods in Nigeria this year has increased to 603.

    Some 1.3 million people have been displaced, and more than 200,000 homes have been destroyed.

    Flooding is expected to continue until the end of November.

    Seasonal flooding is not new in the African country, but this year has been substantially worse than usual.

    In addition to the disruption of food and fuel sources, there are worries about the increasing spread of disease.

    Sadiya Umar Farouk, Nigeria’s minister for humanitarian affairs and disaster management, urged local authorities to evacuate residents in the riskiest locations during a press conference on Sunday.
    She said that authorities are already giving food and other forms of assistance to those in need.
    She continued by saying that several state administrations “failed not to prepare” for the disaster despite “concerted efforts” and early warnings.
    Of Nigeria’s 36 states, 27 have been impacted by the disaster.

  • Pakistan intends to reschedule its $27 billion bilateral debt: Finance Minister

    Pakistan intends to reschedule its $27 billion bilateral debt: Finance Minister

    Finance Minister Ishaq Dar said in a statement to Reuters that he would attempt to reschedule around $27 billion in non-Paris Club debt, most of which is owing to China, but he would not seek haircuts as part of any restructuring.

    Dar ruled out the likelihood of Pakistan’s debt default, an extension of the maturity date for bonds that are due in December, and a revision of the existing International Monetary Fund (IMF) programme in an interview.

    The seasoned finance minister claimed that multilateral development banks and foreign donors have been “very flexible” in finding ways to meet Pakistan’s anticipated $32 billion in external financing demands following disastrous floods.

    He said that some of this might come from repurposing money from development loans that had already been granted but were paying out more slowly.

    Just over two weeks after entering office, Dar, who is attending the IMF and World Bank annual meetings, stated that Pakistan would seek restructuring on similar terms for all bilateral creditors.

    When asked if he felt it would be difficult to convince China, the creditor of nearly $23 billion of the debt, to participate, he declined to respond.

    He responded when asked if Pakistan would try to lower the debt’s principal “rescheduling is fine, but we are not seeking a haircut … That’s not fair”.

  • ‘Germany has role and responsibility with regard to situation in Kashmir’: German Foreign Minister

    German Foreign Minister (FM), Annalena Baerbock, has said in Berlin that the country has a role and responsibility with regard to the situation in Kashmir.

    Speaking at the joint press conference on Friday with her Pakistani counterpart, Bilawal Bhutto-Zardari, she said, “Germany has a role and responsibility with regard to the situation in Kashmir. Therefore, we support intensively the engagement of the United Nations (UN), to find peaceful solutions in the region.”

    Talking about the tensions between India and Pakistan, the minister said, “We support all the engagement with regard to the ceasefire, however, there is a tension which minister [Bilawal] has described so we encourage both Pakistan and India to follow the track of the ceasefire, to follow the track of UN and intensify the political dialogue and also the political and practical cooperation in the region.”

    Moreover, Baerbock showed support for the county by saying that “Pakistan could rely on the support of the German people and government”.

    Bilawal, on the occasion, thanked Germany, and said that the total amount of aid from Germany had reached €60 million for that “we are incredibly grateful to the German people and the government”.

    He also highlighted grave human rights violations in the Indian Illegally Occupied Jammu and Kashmir (IIOJK), and said that the alarming situation posed risks to regional peace and stability.

    The Pakistani foreign minister described his meeting with Baerbock as a “pleasure” and invited her to visit Pakistan.

    In a tweet, he said, “Pleasure meeting for the second time this year with Annalena Baerbock at the German foreign office. Invited her to visit Pakistan to witness firsthand devastation caused by floods in.”

    Bilawal reached Berlin on Friday on his first visit.

  • Malala expected to visit flood relief areas next week

    Malala expected to visit flood relief areas next week

    Nobel laureate and social activist Malala Yousafzai is expected to visit flood affected areas of Pakistan in the second week of October. She is expected to reach the country on October 12 on a three day visit.

    According to sources of Geo News, the Sindh Home Department has issued directives to make strict security arrangements for Malala. A specialised police unit is making arrangements.

    As per media reports, she will first land in Karachi. She will then travel to Dadu under strict security.

    She is expected to offer flood relief funding from the Malala Fund.

    As many as 33 million people of the 220 million South Asian nation have been affected in some way by the floods that swept away houses, roads, railways and bridges and submerged around 4 million acres of farmland.

    Yousafzai recently announced the launch of her production company, Extracurricular.

  • Flood update: UN passes resolution urging countries to support rehabilitation efforts

    Flood update: UN passes resolution urging countries to support rehabilitation efforts

    The United Nations General Assembly (UNGA) passed a resolution on Friday calling for an increase in humanitarian aid to help Pakistan. The resolution has been passed to provide full support to rehabilitation and reconstruction efforts in Pakistan.

    The 193-member body unanimously adopted the resolution, which stated that improved access to international climate financing was crucial for assisting poor nations in reducing their emissions and adapting to climate change, especially the most vulnerable ones.

    159 nations representing all continents joined Pakistan in sponsoring the resolution. UNGA President Csaba Korosi asked the international community to assist the flood-devastated nation and stated that he stood with Pakistan in this hour of need.

    The United Nations General Assembly (UNGA) passed a resolution on Friday calling for an increase in humanitarian aid to help Pakistan. The resolution has been passed to provide full support to rehabilitation and reconstruction efforts in Pakistan.

    The 193-member organisation unanimously adopted the resolution, which stated that improved access to international climate financing was crucial for assisting poor nations in reducing their emissions and adapting to climate change, especially the most vulnerable ones.

  • ‘Nothing to worry about’: Dar dismisses concerns raised by Moody’s downgrading Pakistan

    ‘Nothing to worry about’: Dar dismisses concerns raised by Moody’s downgrading Pakistan

    After Moody’s Investors Service downgraded Pakistan’s sovereign credit rating on Friday, Finance Minister Ishaq Dar dismissed worries, stating there is ‘nothing to worry about’.

    “There is nothing to be worried about, I spoke with Moody’s yesterday and told them that they shouldn’t have done this. They should have consulted with us,” said Dar while talking to the media.

    The announcement follows Moody’s Investors Service’s (Moody’s) Thursday night downgrading the government of Pakistan’s senior unsecured debt rating from B3 to Caa1 for both local and foreign currency issuers.

    According to Express Tribune, the senior unsecured MTN program’s rating was similarly reduced by Moody’s, moving from (P) B3 to (P) Caa1. The future remains bleak.

    In the wake of the terrible floods that have struck the nation since June 2022, the rating agency said that the decision to lower the ratings to Caa1 was motivated by greater government liquidity, external vulnerability risks, and higher debt sustainability risks.

    The floods have significantly increased the need for social spending, compounded Pakistan’s problems with liquidity and external credit, and negatively impacted government revenue.

    According to the rating agency, Pakistan’s long-standing credit weakness of extremely weak debt affordability would continue for the foreseeable future.

    However, the Ministry of Finance vehemently contested Moody’s rating decision in its reaction. “The rating action by Moody’s is strongly contested by the Ministry of Finance as the rating action by Moody’s was carried out unilaterally without prior consultations and meetings with our teams from the Ministry of Finance and State Bank of Pakistan,” a statement issued by the ministry said.

    “Following Moody’s intimation of the rating action, the ministry held two meetings with the agency’s team over the past 24 hours, sharing data and information which clearly show a picture contradicting Moody’s rating action.

    “After a regular stock take of the economic and fiscal conditions, the Ministry of Finance informed that government policies over the last few months have helped in fiscal consolidation,” the ministry added.

    “The government had adequate liquidity and financing arrangements to meet its external liabilities.”

    Dar said that Fitch Ratings recently downgraded the UK from stable to negative. “The ratings from these agencies is essential for issuing bonds and Sukuks in the international market,” he said. He claimed that he informed Moody’s that if the organisation did not change its mind, he would provide a “befitting” response at his meeting with its representatives set for next week.

    “They (Moody’s officials) have to meet me. I told them if you don’t [reverse] this, I will give you a befitting response in our meeting next week,” he said.

  • Floods can push up to 9 million people in poverty: World Bank

    Floods can push up to 9 million people in poverty: World Bank

    The World Bank has said that catastrophic monsoon flooding linked to climate change may push between six and nine million Pakistanis into poverty.

    Unprecedented monsoon rains that hit Pakistan this year resulting in 1,700 fatalities, two million destroyed homes, and a third of the country being under water.

    In shabby tent cities and dispersed settlements close to the still waters that devoured their possessions and way of life, eight million people are still without a home.

    “The recent floods are expected to have a substantial negative impact on Pakistan’s economy and on the poor, mostly through the disruption of agricultural production,” said Najy Benhassine, the World Bank’s Country Director for Pakistan. “The Government must strike a balance in meeting extensive relief and recovery needs, while staying on track with overdue macroeconomic reforms. It will be more important than ever to carefully target relief to the poor, constrain the fiscal deficit within sustainable limits, maintain a tight monetary policy stance, ensure continued exchange rate flexibility, and make progress on critical structural reforms, especially those in the energy sector.”

    As many as 33 million people of the 220 million South Asian nation have been affected in some way by the floods that swept away houses, roads, railways and bridges and submerged around 4 million acres of farmland.

  • Pakistan seeks rollover of SAFE deposits worth $2 billion from China in March 2023

    Pakistan seeks rollover of SAFE deposits worth $2 billion from China in March 2023

    Pakistan seeks the rollover of $2 billion in State Administration of Foreign Exchange (SAFE) China deposits in March 2023. Federal Minister for Finance and Revenue Ishaq Dar, received a visit from Nong Rong, the People’s Republic of China’s ambassador, at the Finance Division.

    According to APP, Dar emphasised the long-standing friendship and kinship ties between Pakistan and China.

    The finance minister also thanked the Chinese leadership for their assistance in refinancing a syndicate facility worth RMB 15 billion ($2.24 billion) for Pakistan. He also asked the ambassador to help facilitate the rollover of $2 billion in SAFE China deposits in March 2023.

    Dar informed the ambassador of the costs to the overall economy as well as the harm done to Pakistan’s infrastructure, agriculture, lives, and property by the severe floods. He expressed gratitude to the Chinese government for providing the government and people of Pakistan with unwavering support during this difficult time.

    In reference to the CPEC, the finance minister stated that the economic corridor will be crucial in advancing Pakistan’s economy and fortifying bilateral ties between the two nations. He further pledged his unwavering support for the aid in realising the success of CPEC.

    The minister received Nong Rong’s congratulations on taking up his new duties. The envoy underlined China’s continuous support for Pakistan and emphasised how China is a rock for the Pakistani people in this time of need.

    “Since the devastating floods occurred in Pakistan, among all countries, China has announced over 644 million RMB (around 90 million dollars), the biggest amount of assistance to Pakistan,” said Nong Rong, in a tweet.