Economist Atif Mian has stated that diplomatic efforts by Prime Minister Shehbaz Sharif helped ease global tensions, leading to a significant improvement in financial markets.
In a statement posted on social media platform X, Atif Mian said that by April 7, the situation had become extremely tense, with a high risk of a major war and ceasefire chances reduced to around 5 percent.
He said that due to Prime Minister Shehbaz Sharif’s diplomatic efforts, the situation took a dramatic turn and the likelihood of a ceasefire became almost certain, resulting in positive global impact.
According to Atif Mian, global financial markets reacted positively after the ceasefire announcement, with the S&P 500 index gaining around 2.9 percent.
He further noted that the total value of global markets is approximately $125 trillion, and this increase resulted in an addition of nearly $3.6 trillion.
He added that Pakistan’s diplomacy has had a positive impact on the global economy, describing it as a remarkable achievement.
