ISLAMABAD-Pakistan has signed a debt service suspension settlement with the Republic of Korea amounting to deferment of cost of loans price USD 19.911 million.
Pakistan and Korea have signed the settlement underneath the G-20 Debt Service Suspension Initiative (DSSI) framework. This quantity, initially needed to be repaid between July and December 2021, will now be repaid over a interval of six years (together with one-year grace interval) in semi-annual installments. As a result of help prolonged by the event companions of Pakistan, the G-20 DSSI has offered the fiscal house which was essential to take care of pressing well being and financial wants of the Pakistan. The overall quantity of debt, that’s to be suspended underneath the DSSI framework, masking the interval of compensation from Might 2020 to December 2021, stands at USD 3,686 million.
Pakistan has already concluded and signed 104 agreements with 21 bilateral collectors for the deferment of its debt repayments underneath the G-20 DSSI, amounting to USD 3,633 million. The signing of above-mentioned settlement brings this complete to USD 3,653 million. Negotiations for the remaining agreements to be signed underneath the G-20 DSSI are ongoing.