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Pakistan submits application for debt relief from G20 countries

debt relief

Pakistan submits application for debt relief from G20 countries. According to sources, Pakistan has requested for deferment of loan installment given Corona’s situation.

Sources said that the installment of 1.8 billion dollars has been requested to be postponed till December this year, which includes the principal amount of 1.46 billion dollars and interest of 323 million dollars.

Sources said that in case of delay in loan disbursement, Pakistan would not be able to get new loans till December this year, while loans from the International Monetary Fund (IMF) would be exempted from the ban.

It should be noted that the deadly coronavirus has affected the economy of the world, including Pakistan, due to which the IMF has also given one-year relief in repaying the loans of developing countries. Earlier, PM Imran Khan requested G20 countries for debt relief due to corona situation.

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