Islamabad: Pakistan, which is facing a cash crunch, has received US 80 800 million in debt relief from 14 G20 member countries, while it has received six other countries in the group, including Saudi Arabia and Japan. Confirmation still needed. This information was given in a media report. Pakistan had taken 25 25.4 billion from the group of 20 richest countries in the world till August this year.
On April 15 this year, the G20 countries announced a moratorium on debt repayment of 76 countries, including Pakistan, from May to December 2020, although it was conditional on a formal request from each country. The Express Tribune quoted government sources as saying that over the past seven months, 14 countries have ratified their agreements with Pakistan, which has so far provided 800 million in debt relief to Islamabad. According to the report, apart from these 14 countries, two other countries had also approached Pakistan for debt relief.
According to official documents, Pakistan has not yet finalized debt restructuring rules with Japan, Russia, Saudi Arabia, the United Arab Emirates and the United Kingdom. A senior official of the Ministry of Economic Affairs said that the six countries have not yet ratified the debt relief agreements, but the agreement with these countries is expected to be completed by the end of next month.
