By AFP - Agence France Presse December 21, 2020 Print Article
Pakistan s Secretary of the Ministry of Economic Affairs Noor Ahmed (left) and Yves Manville, deputy head of the French embassy in Pakistan, sign the debt service agreement Farooq NAEEM Text size
Pakistan has secured a $1.7 billion debt relief agreement to help offset the financial headwinds sparked by the coronavirus pandemic, officials said Monday.
The deal, following months of negotiations with creditors, will provide a moratorium on debt payments for large swathes of the current fiscal year and help ease the cash-strapped country s massive financial obligations. The Government of Pakistan has successfully negotiated and concluded rescheduling agreements with 19 bilateral creditors, including members of the Paris club, the country s ministry of economic affairs said in a statement.
Views: Visits 11
Secretary Ministry of Economic Affairs of Pakistan, Noor Ahmed (L) and Yves Manville (R), Deputy Head of Mission of the French embassy to Pakistan, exchange agreement copies of the G20 Debt Service Suspension Initiative (DSSI), in Islamabad on December 21, 2020. (Photo by Farooq NAEEM / AFP)
Pakistan has secured a $1.7 billion debt relief agreement to help offset the financial headwinds sparked by the coronavirus pandemic, officials said Monday.
The deal, following months of negotiations with creditors, will provide a moratorium on debt payments for large swathes of the current fiscal year and help ease the cash-strapped country’s massive financial obligations.