Pakistan gets relief from G20 countries?

According to a Baaghi TV report, Pakistan has received a debt relief of approximately 800 million from the G20 group.

According to government sources, in the last seven months, 14 countries have entered into agreements with Pakistan to provide loan repayment concessions. Under which, Pakistan has received a temporary relief of 800 million. Apart from these, 2 other countries have also approached Pakistan for relief in debt repayment.

According to official documents, Japan, Russia, Saudi Arabia, the United Arab Emirates and the United Kingdom have so far failed to resolve the 1 billion debt rescheduling issue.

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A senior official in the Ministry of Economic Affairs said that although the six countries have not yet ratified the agreements on debt relief, they are expected to reach an agreement by the end of this month.

According to the Ministry of Economic Affairs, Pakistan was expecting relief from the G20 countries in repaying 1.8 billion in loans for the period May-December 2020. This includes 1.47 billion in principal and 323 million in interest.

The Ministry of Economic Affairs estimates that Pakistan owes 613 million to Saudi Arabia, 309 million to China, 23 to Canada, 183 to France, 99 to Germany, 6 to Italy, 373 to Japan, 47 to South Korea, 14 to Russia, 1 to United Kingdom and 128 million from the United States.

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It should be noted that Pakistan was owed 25.4 billion to the 20 richest countries in the world (G20) in August this year.

Coordination of efforts in connection with the G20 summit hosted by Saudi Arabia was discussed. In addition, relations between the two countries were discussed. This is the first time that the G20 summit has been held in any Arab country. The agenda of the summit includes a number of issues, including energy, environment, digital economy, health and education.

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1 Comment
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