January 14, 2022

Foreign Minister Shah Mehmood Qureshi has said that the stolen assets of developing countries must be returned without delay and obfuscation.

He was virtually addressing the Handover Ceremony for the Chair of the G77 and China on Friday.

The Foreign Minister said the illicit outflow of trillions of dollars from the developing countries is draining their ability to achieve sustained growth and development.

He stressed on the need to adopt new instruments on money laundering and tax cooperation, and establish a UN body to monitor, halt, and reverse illicit financial flows, as recommended by the FACTI Panel.