Ishaq Dar proposes establishment of global fund

04 May, 2015 7:39 pm

BAKU – Federal Finance Minister Ishaq Dar on Monday proposed the establishment of a global fund for addressing the needs of importing and exporting countries in case of any change in oil prices.

Taking part in a discussion attended by the Asian Development Bank Governors in Baku he said that due to the recent drop in oil prices, the current account deficit came down while disposable income for common man increased.

The ADB president and the Australian Finance Minister acknowledged the observation of Ishaq Dar and said that ADB and other countries should consider the options as the impact of oil prices may be a long term issue. – Web Desk

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