ISLAMABAD: (HRNW) Pakistan and Japan on Tuesday signed debt suspension agreements worth $367 million under phase-1 of the G20 Debt Service Suspension Initiative (DSSI).
Economic Affairs Division Secretary Noor Ahmed and Japanese Ambassador to Pakistan Kuninori Matsuda signed the agreements in Islamabad.
In the wake of Covid-19, the G20 countries, together with the Paris Club creditors, had announced debt service suspension to provide much-needed fiscal space to the stressed countries to help them meet urgent economic and health needs. The government of Pakistan, taking advantage of the initiative, entered into negotiations with 21 creditor countries for debt suspension amounting to $1.6 billion under the DSSI phase-1 (April-December 2020). The government will repay the suspended amount in four years starting January 2022.
Be the first to comment on "Pakistan, Japan sign $367m debt relief pacts"