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Pakistan signs 2 Debt Service Suspension Agreements

Government of PakistanPakistan signs 2 Debt Service Suspension Agreements
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ISLAMABAD, Pakistan: The government of Pakistan on Wednesday signed two Debt Service Suspension Agreements amounting to suspension of loans worth US$ 197.49 million under the G-20 Debt Service Suspension Initiative (DSSI) framework.

Of this total amount, US$ 191.60 million were owed to the Japan International Cooperation Agency (JICA) during the period from January to June 2021 and US$ 5.89 million were owed to the government of the Swiss Confederation during the period from July to December 2021.

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These amounts will now be repaid over a period of six years (including one-year grace period) in semi-annual instalments.

Due to the support extended by the development partners of Pakistan including the JICA and the government of the Swiss Confederation, the G-20 DSSI has provided the fiscal space which was necessary to deal with the urgent health and economic needs of the Islamic Republic of Pakistan.

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The total amount of debt that has been suspended and rescheduled under the DSSI framework, covering the period from May 2020 to December 2021, stands at US$ 3,688 million.

Pakistan has already concluded and signed 91 agreements with 21 bilateral creditors for the rescheduling of its debts under the G-20 DSSI framework, amounting to rescheduling of almost US$ 2,953 million.

The signing of above-mentioned agreements brings this total to US$ 3,150 million. Negotiations for remaining agreements to be signed under the G-20 DSSI are on-going.

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Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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