G20 countries defer repayment of Pakistan’s debt

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Due to the situation caused by Corona virus, the G20 group of rich countries has suspended the payment of 1.7 billion debt owed to Pakistan.

Pakistan has signed loan rescheduling agreements with France, China and Switzerland. Pakistan negotiated to take advantage of the G20 countries’ debt service suspension facility, after which 1.7 billion in debt to Pakistan was deferred.

According to the Ministry of Economic Affairs, Pakistan was expecting relief from G20 countries in the repayment of 1.8 billion for the period May-December 2020, including 1.47 billion in principal and  323 million in interest.

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