Paris Club powers Pakistan with $873mn

03:10 PM | 8 Dec, 2020
Paris Club powers Pakistan with $873mn

ISLAMABAD – Pakistan is set to receive $873 million in debt relief from the Paris Club of Creditor Nations.

According to the Paris Club, it is close to fully achieve the implementation of the debt service suspension initiative of around $2.5 billion with 36 countries.

Earlier in November, the Economic Coordination Committee of the cabinet allowed the economic affairs division to proceed with the formal request for availing the G-20 debt relief for the extended period from January to June 2021 under the Covid support.

PM Imran urges G-20 to further extend debt relief ... 09:11 PM | 15 May, 2020

ISLAMABAD - Prime Minister Imran Khan Friday, while calling the G-20 debt relief a timely initiative, urged the forum ...

The Paris Club members are open to extending the DSSI implementation phase by another six months. This option will begin if the economic and financial situation doesn’t improve before the 2021 spring meetings of the World Bank and International Monetary Fund (IMF).

This framework provides a major breakthrough in the international financial architecture that will strengthen the bond between Paris Club and other G20 creditors at a time when debt vulnerabilities are high; particularly in low-income countries like Pakistan.

Pakistan ‘to sign Rs335b debt relief deal with ... 09:36 AM | 6 Jul, 2020

ISLAMABAD – Pakistan is to sign its debt relief agreement with G20 countries by the end of this year to avail ...