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Pakistan signs $526 million debt relief agreement with three G-20 countries

Web Desk by Web Desk
December 22, 2020
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ISLAMABAD: Pakistan has signed debt rescheduling agreement worth $526 million with three members of G-20 club.

According to a handout issued by the Economic Affairs Ministry, the debt rescheduling agreement has been signed with France, Switzerland and China.

The repayments of $170 billion to France, $9 million to Switzerland and $347 million to China will be delayed as a result of this agreement.

Moreover, in April the G-20 countries announced Debt Service Suspension Initiative (DSSI) in order to provide stress relief for the deserving countries during this critical time of Covid-19.

Pakistan has received $950 million worth of temporary relief as it has successfully negotiated the agreement with 19 bilateral creditors.

Tags: debt relief agreementPakistan signs $526 millionthree G-20 countries
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