Govt successfully sign rescheduling agreements with G20s

Pakistan ranks cheapest country to live in

ISLAMABAD, Dec 21 (APP):The government of Pakistan has successfully negotiated while concluding a rescheduling of agreements with 19 bilateral creditors, including members of the Paris Club.

The Government of Pakistan, taking advantage of this initiative, entered into negotiations with 21 creditor countries for debt suspension amounting to $1.7 billion, said a press release issued by Ministry of Economic Affairs here on Monday.

The debt rescheduling agreements were signed 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 Federal Secretary Economic Affairs Division, Noor Ahmed appreciated the debt suspension support provided by the G20 and Paris Club countries.

He said, it was timely and had helped Pakistan save lives and livelihoods of millions during the difficult COVID-19 times.

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 COVID-19.