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