ISLAMABAD, Pakistan: It may be recalled that the G20 Countries together with the Paris Club Creditors had announced a Debt Service Suspension Initiative (DSSI) to provide much needed fiscal space to stressed Countries in their fight against the COVID-19 pandemic.
Taking advantage of this initiative, the government of Pakistan entered into negotiations with 21 Creditor Countries for debt suspension amounting to US$ 1.7 billion.
The government of Pakistan has successfully negotiated and concluded debt rescheduling agreements with 19 bilateral creditors including members of the Paris Club.
The debt rescheduling agreements were signed on Monday with France, Switzerland, and China by the Economic Affair Division at Islamabad.
The Signing Ceremony was witnessed by Senior Embassy Officials of these Countries.
On this occasion, the Secretary Economic Affairs Division appreciated the debt suspension support provided by the G20 and Paris Club Countries.
The Secretary said that it was timely and had helped Pakistan save lives and livelihoods of millions during the difficult COVID-19 times.