Tuesday, August 9, 2022

France agrees to defer 10. 10.7 million debt

The Economic Affairs Division says Pakistan and France have signed an agreement to default on a گروپ 107 million debt owed to Pakistan under the Group of 20 Debt Suspension Initiative (DSSI). Are

A press release issued by the Economic Affairs Division said that the loan was to be repaid between July and December 2021, but after the signing of the agreement, the loan will now have to be repaid over a period of 6 years with two installments per year. Yes, it includes a one-year grace period.

Earlier, Pakistan had signed a مؤ 260 million deferral agreement with France under the DSSI. Haya-ud-Din and French Ambassador to Pakistan Nicolas Galle signed the agreement in Islamabad today.

The Group of 20 countries have provided financial assistance to Pakistan under the DSSI for necessary expenditure in the health and economic sectors.

Under the DSSI, a total of ارب 3.68 billion in debt has been deferred and rescheduled for the period May 2020 to December 2021.

The press release said that Pakistan has already signed 93 debt rescheduling agreements with 21 countries worth ارب 3.15 billion. After today’s agreement, the total amount of debt rescheduling is ارب 3.25 billion.

It was further informed that negotiations are underway for rescheduling of remaining loans under G20 ‘DSSI’.

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