AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
The Government on Monday signed a Debt Service Suspension Agreement with Republic of Korea to deferment of payment of loans worth 19.911 million dollars, under the G-20 Debt Service Suspension Initiative framework.
According to a press release issued by the Economic Affairs Division, this amount, initially had to be repaid between July and December 2021, will now be repaid over a period of six years in semi-annual installments.
The total amount of debt, that is to be suspended under the framework, covering the period of repayment from May 2020 to December 2021, stands at $3,686 million.
Pakistan has already concluded and signed 104 agreements with 21 bilateral creditors for the deferment of its debt repayments under the G-20 DSSI, amounting to $3,633 million.
Source: Radio Pakistan