Pakistan likely to get Loan Relief

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After Paris Club, Pakistan is likely to get loan relief from two ‘friendly’ countries.

According to the report of Baaghi TV, Pakistan is likely to get more relief in its debts. Saudi Arabia and China have also assured to defer repayment of Pakistan’s debts from May 1st to December 31st.

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According to Pakistani finance ministry officials, the delay in repaying the loan will provide a total of 1.8 billion in relief to Pakistan and a formal announcement is expected next week, according to finance ministry officials.

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Negotiations are also underway to defer the loan payments and the next budget is being prepared with these payments as deferred.

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It may be recalled that the Paris Club, a group of lenders to developing countries, had yesterday announced deferment of loans to Pakistan, but it has been included in the list of countries that can delay the repayment of loans.

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A statement issued by the Paris Club said that Pakistan’s debt has been deferred from May 1st to December 31st, 2020. The facility will provide relief to Pakistan in repaying its loans.

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According to the statement, Pakistan’s debt has been deferred to deal with the corona virus.

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The Paris Club, which is supported by the G20 Group and the French Ministry of Finance, agreed in April this year to suspend debt payments by 77 of the world’s poorest countries to help them fight the corona virus. Be able to play a role.

Earlier, the IMF had given a one-year loan relief to Pakistan and the G20 countries had also agreed to freeze the debt.

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